SpaceX (bStocks Tokenized Stock) (SPCXB) is 3906.6× the size of RTX (Ondo Tokenized) (RTXON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.00 across 29 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against RTXON's 15%.
$123.1500
RTXONSPCXB
-0.00over 29 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | RTXON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -10.4% | -47.5% |
| Risk-adjusted return (90d) | -0.69 | 0.28 |
Relative strength over 90 days: SPCXB outperformed RTXON by 16.7% — measured on the RTXON/SPCXB ratio, so it holds regardless of market direction.