SpaceX (bStocks Tokenized Stock) (SPCXB) is 562926.1× the size of Arm Holdings aStock (AARM) by market capitalisation. Their daily returns move loosely together (correlation 0.37 across 31 shared trading days). Both have run at a similar volatility, around 73% annualised.
$134.3200
AARMSPCXB
0.37over 31 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 | AARM | SPCXB |
|---|---|---|
| Max drawdown (400d) | -32.4% | -47.5% |
| Risk-adjusted return (90d) | -0.37 | 0.28 |
Relative strength over 90 days: SPCXB outperformed AARM by 27.6% — measured on the AARM/SPCXB ratio, so it holds regardless of market direction.