SpaceX (bStocks Tokenized Stock) (SPCXB) is 33.5× the size of Cea Industries (BNC4) by market capitalisation. Their daily returns move loosely together (correlation 0.38 across 28 shared trading days). BNC4 has been the more volatile of the two, at 111% annualised against SPCXB's 71%.
$133.8600
BNC4SPCXB
0.38over 28 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 | BNC4 | SPCXB |
|---|---|---|
| Max drawdown (400d) | -26.6% | -47.5% |
| Risk-adjusted return (90d) | -0.11 | 0.28 |
Relative strength over 90 days: SPCXB outperformed BNC4 by 4.7% — measured on the BNC4/SPCXB ratio, so it holds regardless of market direction.