SpaceX (bStocks Tokenized Stock) (SPCXB) is 978.6× the size of Accenture xStock (ACNX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.12 across 112 shared trading days). Both have run at a similar volatility, around 70% annualised.
$133.6800
ACNXSPCXB
-0.12over 112 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 | ACNX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -56.6% | -47.5% |
| Risk-adjusted return (90d) | 0.90 | 0.28 |
Relative strength over 90 days: ACNX outperformed SPCXB by 114.6% — measured on the ACNX/SPCXB ratio, so it holds regardless of market direction.