SpaceX (bStocks Tokenized Stock) (SPCXB) is 3.1× the size of Alphabet xStock (GOOGLX) by market capitalisation. Their daily returns move loosely together (correlation 0.40 across 52 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against GOOGLX's 33%.
$136.5600
GOOGLXSPCXB
0.40over 52 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 | GOOGLX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -20.1% | -47.5% |
| Risk-adjusted return (90d) | -0.55 | 0.45 |
Relative strength over 90 days: SPCXB outperformed GOOGLX by 22.1% — measured on the GOOGLX/SPCXB ratio, so it holds regardless of market direction.