SpaceX (bStocks Tokenized Stock) (SPCXB) is 15.9× the size of Apple xStock (AAPLX) by market capitalisation. Their daily returns move barely together (correlation 0.03 across 110 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against AAPLX's 25%.
$130.8800
AAPLXSPCXB
0.03over 110 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 | AAPLX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -14.0% | -47.5% |
| Risk-adjusted return (90d) | 0.54 | 0.45 |
Relative strength over 90 days: AAPLX outperformed SPCXB by 22.2% — measured on the AAPLX/SPCXB ratio, so it holds regardless of market direction.