Taiwan Semiconductor Manufacturing (Ondo Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 34.5× the size of Taiwan Semiconductor Manufacturing (Ondo Tokenized Stock) (TSMON) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 109 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against TSMON's 43%.

Correlation: 0.23
Size ratio: 1 : 34.5

Taiwan Semiconductor Manufacturing (Ondo Tokenized Stock)TSMON

$403.7100

24h: -1.08%
Market cap: $5.83M
Volume 24h: $846,515
Volatility (ann.): 43%

SpaceX (bStocks Tokenized Stock)SPCXB

$137.5400

24h: -2.62%
Market cap: $200.99M
Volume 24h: $68.78M
Volatility (ann.): 71%

TSMON 2.8%Share of the two combined market caps97.2% SPCXB

Performance

TSMONSPCXB

7 days+0.66%-5.60%TSMON
30 days+7.31%-11.42%TSMON
90 days-5.24%+28.18%SPCXB
1 year+56.82%——

Correlation

0.23over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2190d: 0.311y: 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	TSMON	SPCXB
Max drawdown (400d)	-21.5%	-47.5%
Risk-adjusted return (90d)	-0.13	0.45

Relative strength over 90 days: TSMON outperformed SPCXB by 11.7% — measured on the TSMON/SPCXB ratio, so it holds regardless of market direction.

Taiwan Semiconductor Manufacturing (Ondo Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →