SpaceX (bStocks Tokenized Stock) (SPCXB) is 270.1× the size of Amazon Tokenized Stock (Reality) (RAMZN) by market capitalisation. Their daily returns move barely together (correlation 0.17 across 25 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against RAMZN's 23%.
$263.7400
$133.5500
RAMZNSPCXB
0.17over 25 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 | RAMZN | SPCXB |
|---|---|---|
| Max drawdown (400d) | -4.7% | -47.5% |
| Risk-adjusted return (90d) | 0.11 | 0.28 |
Relative strength over 90 days: SPCXB outperformed RAMZN by 10.0% — measured on the RAMZN/SPCXB ratio, so it holds regardless of market direction.