ServiceNow (Ondo Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 158.0× the size of ServiceNow (Ondo Tokenized Stock) (NOWON) by market capitalisation. Over the past 90 days, NOWON is ahead by 11.3 percentage points (NOWON +39.4% against SPCXB +28.2%). Their daily returns move barely together (correlation 0.12 across 109 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against NOWON's 61%.

Correlation: 0.12
Size ratio: 1 : 158.0
Ahead over 90 days: NOWON

ServiceNow (Ondo Tokenized Stock)NOWON

$535.3400

24h: +0.83%
Market cap: $1.24M
Volume 24h: $450,243
Volatility (ann.): 61%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.9200

24h: -3.48%
Market cap: $195.62M
Volume 24h: $53.04M
Volatility (ann.): 71%

NOWON 0.6%Share of the two combined market caps99.4% SPCXB

Performance

NOWONSPCXB

7 days+0.10%-5.60%NOWON
30 days-3.25%-11.42%NOWON
90 days+39.45%+28.18%NOWON

Correlation

0.12over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1090d: 0.051y: insufficient data

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.

Risk & extremes

Metric	NOWON	SPCXB
Max drawdown (400d)	-47.5%	-47.5%
Risk-adjusted return (90d)	0.69	0.45

Relative strength over 90 days: NOWON outperformed SPCXB by 64.3% — measured on the NOWON/SPCXB ratio, so it holds regardless of market direction.

ServiceNow (Ondo Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →