SpaceX (bStocks Tokenized Stock) (SPCXB) is 6370.8× the size of Uranium Energy (Ondo Tokenized) (UECON) by market capitalisation. Their daily returns move barely together (correlation 0.18 across 25 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against UECON's 60%.
$6.4800
$127.6800
UECONSPCXB
0.18over 25 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 | UECON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -22.9% | -47.5% |
| Risk-adjusted return (90d) | -0.36 | -0.15 |
Relative strength over 90 days: SPCXB outperformed UECON by 26.7% — measured on the UECON/SPCXB ratio, so it holds regardless of market direction.