Advanced Micro Devices (Backpack Securities) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 286.0× the size of Advanced Micro Devices (Backpack Securities) (AMD) by market capitalisation. Their daily returns move loosely together (correlation 0.60 across 20 shared trading days). AMD has been the more volatile of the two, at 99% annualised against SPCXB's 71%.

Correlation: 0.60
Size ratio: 1 : 286.0

Advanced Micro Devices (Backpack Securities)AMD

$481.0400

24h: -4.30%
Market cap: $642,413
Volume 24h: $5.25M
Volatility (ann.): 99%

SpaceX (bStocks Tokenized Stock)SPCXB

$124.3500

24h: -11.19%
Market cap: $183.71M
Volume 24h: $35.96M
Volatility (ann.): 71%

AMD 0.3%Share of the two combined market caps99.7% SPCXB

Performance

AMDSPCXB

7 days-15.54%-6.33%SPCXB
30 days—-21.79%—
90 days—+17.70%—

Correlation

0.60over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	AMD	SPCXB
Max drawdown (400d)	-25.8%	-47.5%
Risk-adjusted return (90d)	—	0.28

Relative strength over 90 days: SPCXB outperformed AMD by 9.9% — measured on the AMD/SPCXB ratio, so it holds regardless of market direction.

Advanced Micro Devices (Backpack Securities) →SpaceX (bStocks Tokenized Stock) →