SpaceX (bStocks Tokenized Stock) (SPCXB) is 670.3× the size of AbbVie xStock (ABBVX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.02 across 110 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against ABBVX's 52%.
$133.1200
ABBVXSPCXB
-0.02over 110 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 | ABBVX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -20.1% | -47.5% |
| Risk-adjusted return (90d) | 0.20 | 0.28 |
Relative strength over 90 days: ABBVX outperformed SPCXB by 11.6% — measured on the ABBVX/SPCXB ratio, so it holds regardless of market direction.