SpaceX (bStocks Tokenized Stock) (SPCXB) is 28.8× the size of Broadcom xStock (AVGOX) by market capitalisation. Their daily returns move barely together (correlation 0.18 across 110 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against AVGOX's 51%.
$136.9500
AVGOXSPCXB
0.18over 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 | AVGOX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -31.0% | -47.5% |
| Risk-adjusted return (90d) | -0.14 | 0.45 |
Relative strength over 90 days: SPCXB outperformed AVGOX by 0.1% — measured on the AVGOX/SPCXB ratio, so it holds regardless of market direction.