SpaceX (bStocks Tokenized Stock) (SPCXB) is 922.1× the size of Comcast xStock (CMCSAX) by market capitalisation. Their daily returns move barely together (correlation 0.14 across 112 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against CMCSAX's 47%.
$133.6800
CMCSAXSPCXB
0.14over 112 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 | CMCSAX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -40.5% | -47.5% |
| Risk-adjusted return (90d) | -0.19 | 0.28 |
Relative strength over 90 days: CMCSAX outperformed SPCXB by 6.3% — measured on the CMCSAX/SPCXB ratio, so it holds regardless of market direction.