SpaceX (bStocks Tokenized Stock) (SPCXB) is 669.3× the size of Terawulf (Ondo Tokenized) (WULFON) by market capitalisation. Their daily returns move closely together (correlation 0.64 across 26 shared trading days). Both have run at a similar volatility, around 76% annualised.
$11.7000
$134.0800
WULFONSPCXB
0.64over 26 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 | WULFON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -19.0% | -47.5% |
| Risk-adjusted return (90d) | -0.05 | 0.28 |
Relative strength over 90 days: SPCXB outperformed WULFON by 9.7% — measured on the WULFON/SPCXB ratio, so it holds regardless of market direction.