SpaceX (bStocks Tokenized Stock) (SPCXB) is 86.9× the size of Berkshire Hathaway xStock (BRK.BX) by market capitalisation. Their daily returns move barely together (correlation 0.04 across 31 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against BRK.BX's 16%.
$557.6400
$132.9400
BRK.BXSPCXB
0.04over 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 | BRK.BX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -3.5% | -47.5% |
| Risk-adjusted return (90d) | 0.00 | 0.45 |
Relative strength over 90 days: SPCXB outperformed BRK.BX by 6.4% — measured on the BRK.BX/SPCXB ratio, so it holds regardless of market direction.