Applovin Corporation • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 22034.3× the size of Applovin Corporation • Robinhood Token (APP) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.36 across 27 shared trading days). APP has been the more volatile of the two, at 187% annualised against SPCXB's 73%.

Correlation: -0.36
Size ratio: 1 : 22034.3

Applovin Corporation • Robinhood TokenAPP

$351.7100

24h: +3.33%
Market cap: $9,202
Volume 24h: $877
Volatility (ann.): 187%

SpaceX (bStocks Tokenized Stock)SPCXB

$128.7100

24h: -4.18%
Market cap: $202.76M
Volume 24h: $76.36M
Volatility (ann.): 73%

APP 0.0%Share of the two combined market caps100.0% SPCXB

Performance

APPSPCXB

7 days+31.56%-12.85%APP
30 days+23.85%-27.86%APP
90 days—-8.57%—

Correlation

-0.36over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3690d: 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	APP	SPCXB
Max drawdown (400d)	-16.1%	-47.5%
Risk-adjusted return (90d)	0.13	-0.15

Relative strength over 90 days: APP outperformed SPCXB by 50.5% — measured on the APP/SPCXB ratio, so it holds regardless of market direction.

Applovin Corporation • Robinhood Token →SpaceX (bStocks Tokenized Stock) →