SpaceX (bStocks Tokenized Stock) (SPCXB) is 292.8× the size of Costco • Robinhood Token (COST) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.16 across 37 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against COST's 29%.
$1,021.3
$134.9200
COSTSPCXB
-0.16over 37 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 | COST | SPCXB |
|---|---|---|
| Max drawdown (400d) | -6.0% | -47.5% |
| Risk-adjusted return (90d) | 0.27 | 0.45 |
Relative strength over 90 days: COST outperformed SPCXB by 9.8% — measured on the COST/SPCXB ratio, so it holds regardless of market direction.