Alphabet (Coinbase Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 21.6× the size of Alphabet (Coinbase Tokenized Stock) (GOOGLC) by market capitalisation. Their daily returns move loosely together (correlation 0.40 across 40 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against GOOGLC's 42%.

Correlation: 0.40
Size ratio: 1 : 21.6

Alphabet (Coinbase Tokenized Stock)GOOGLC

$276.0900

24h: -1.58%
Market cap: $9.05M
Volume 24h: $9.27M
Volatility (ann.): 42%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.9200

24h: -3.48%
Market cap: $195.62M
Volume 24h: $53.04M
Volatility (ann.): 71%

GOOGLC 4.4%Share of the two combined market caps95.6% SPCXB

Performance

GOOGLCSPCXB

7 days-13.06%-5.60%SPCXB
30 days-17.41%-11.42%SPCXB
90 days—+28.18%—

Correlation

0.40over 40 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4190d: 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	GOOGLC	SPCXB
Max drawdown (400d)	-21.4%	-47.5%
Risk-adjusted return (90d)	-0.46	0.45

Relative strength over 90 days: SPCXB outperformed GOOGLC by 20.0% — measured on the GOOGLC/SPCXB ratio, so it holds regardless of market direction.

Alphabet (Coinbase Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →