SpaceX (bStocks Tokenized Stock) (SPCXB) is 16439.4× the size of Bullish Tokenized Stock (Reality) (RBLSH) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.15 across 26 shared trading days). Both have run at a similar volatility, around 75% annualised.
$23.2300
$123.9000
RBLSHSPCXB
-0.15over 26 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 | RBLSH | SPCXB |
|---|---|---|
| Max drawdown (400d) | -22.8% | -47.5% |
| Risk-adjusted return (90d) | -0.13 | 0.28 |
Relative strength over 90 days: SPCXB outperformed RBLSH by 14.7% — measured on the RBLSH/SPCXB ratio, so it holds regardless of market direction.