Talen Energy (Ondo Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 5412.8× the size of Talen Energy (Ondo Tokenized Stock) (TLNON) by market capitalisation. Their daily returns move barely together (correlation 0.15 across 25 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against TLNON's 50%.

Correlation: 0.15
Size ratio: 1 : 5412.8

Talen Energy (Ondo Tokenized Stock)TLNON

$316.2200

24h: -3.19%
Market cap: $36,686
Volume 24h: $1,466
Volatility (ann.): 50%

SpaceX (bStocks Tokenized Stock)SPCXB

$126.8600

24h: -5.32%
Market cap: $198.58M
Volume 24h: $61.77M
Volatility (ann.): 73%

TLNON 0.0%Share of the two combined market caps100.0% SPCXB

Performance

TLNONSPCXB

7 days+5.15%-12.85%TLNON
30 days+5.00%-27.86%TLNON
90 days—-8.57%—

Correlation

0.15over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1590d: insufficient data1y: 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	TLNON	SPCXB
Max drawdown (400d)	-13.5%	-47.5%
Risk-adjusted return (90d)	0.10	-0.15

Relative strength over 90 days: SPCXB outperformed TLNON by 0.9% — measured on the TLNON/SPCXB ratio, so it holds regardless of market direction.

Talen Energy (Ondo Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →