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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 304.1× the size of Spotify (Ondo Tokenized Stock) (SPOTON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.08 across 109 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against SPOTON's 45%.

Correlation: -0.08
Size ratio: 1 : 304.1

Spotify (Ondo Tokenized Stock)SPOTON

$599.5500

24h: +0.79%
Market cap: $643,233
Volume 24h: $157,406
Volatility (ann.): 45%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.5500

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

SPOTON 0.3%Share of the two combined market caps99.7% SPCXB

Performance

SPOTONSPCXB

7 days-1.82%-5.60%SPOTON
30 days-6.76%-11.42%SPOTON
90 days+9.96%+28.18%SPCXB
1 year-27.52%——

Correlation

-0.08over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2090d: -0.121y: 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	SPOTON	SPCXB
Max drawdown (400d)	-41.9%	-47.5%
Risk-adjusted return (90d)	0.25	0.45

Relative strength over 90 days: SPOTON outperformed SPCXB by 29.6% — measured on the SPOTON/SPCXB ratio, so it holds regardless of market direction.

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