Carnival Corporation • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 8828.2× the size of Carnival Corporation • Robinhood Token (CCL) by market capitalisation. Their daily returns move barely together (correlation 0.18 across 31 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against CCL's 41%.

Correlation: 0.18
Size ratio: 1 : 8828.2

Carnival Corporation • Robinhood TokenCCL

$31.5700

24h: +6.32%
Market cap: $22,266
Volume 24h: $1,056
Volatility (ann.): 41%

SpaceX (bStocks Tokenized Stock)SPCXB

$125.5200

24h: -6.97%
Market cap: $196.57M
Volume 24h: $51.07M
Volatility (ann.): 71%

CCL 0.0%Share of the two combined market caps100.0% SPCXB

Performance

CCLSPCXB

7 days+11.80%-6.33%CCL
30 days+19.76%-21.79%CCL
90 days—+17.70%—

Correlation

0.18over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1890d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	CCL	SPCXB
Max drawdown (400d)	-4.4%	-47.5%
Risk-adjusted return (90d)	0.49	0.28

Relative strength over 90 days: CCL outperformed SPCXB by 32.4% — measured on the CCL/SPCXB ratio, so it holds regardless of market direction.

Carnival Corporation • Robinhood Token →SpaceX (bStocks Tokenized Stock) →