Bending Spoons xStock (BSPX) and SpaceX (bStocks Tokenized Stock) (SPCXB) compared side by side. Their daily returns move barely together (correlation 0.21 across 34 shared trading days). Both have run at a similar volatility, around 76% annualised.
$132.5500
BSPXSPCXB
0.21over 34 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 | BSPX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -29.6% | -47.5% |
| Risk-adjusted return (90d) | -0.20 | 0.45 |
Relative strength over 90 days: SPCXB outperformed BSPX by 18.3% — measured on the BSPX/SPCXB ratio, so it holds regardless of market direction.