SpaceX (bStocks Tokenized Stock) (SPCXB) is 2491.6× the size of Datadog • Robinhood Token (DDOG) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.07 across 39 shared trading days). DDOG has been the more volatile of the two, at 96% annualised against SPCXB's 71%.
$188.2400
$132.4700
DDOGSPCXB
-0.07over 39 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 | DDOG | SPCXB |
|---|---|---|
| Max drawdown (400d) | -32.6% | -47.5% |
| Risk-adjusted return (90d) | -0.20 | 0.28 |
Relative strength over 90 days: SPCXB outperformed DDOG by 14.9% — measured on the DDOG/SPCXB ratio, so it holds regardless of market direction.