Eli Lilly and Company (Backpack Securities) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 548.6× the size of Eli Lilly and Company (Backpack Securities) (LLY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.21 across 39 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against LLY's 46%.

Correlation: -0.21
Size ratio: 1 : 548.6

Eli Lilly and Company (Backpack Securities)LLY

$1,432.51

24h: +0.64%
Market cap: $356,004
Volume 24h: $392,730
Volatility (ann.): 46%

SpaceX (bStocks Tokenized Stock)SPCXB

$131.9200

24h: -0.60%
Market cap: $195.30M
Volume 24h: $43.16M
Volatility (ann.): 71%

LLY 0.2%Share of the two combined market caps99.8% SPCXB

Performance

LLYSPCXB

7 days+9.38%-6.33%LLY
30 days+26.41%-21.79%LLY
90 days—+17.70%—

Correlation

-0.21over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2590d: 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	LLY	SPCXB
Max drawdown (400d)	-4.5%	-47.5%
Risk-adjusted return (90d)	0.49	0.28

Relative strength over 90 days: LLY outperformed SPCXB by 29.4% — measured on the LLY/SPCXB ratio, so it holds regardless of market direction.

Eli Lilly and Company (Backpack Securities) →SpaceX (bStocks Tokenized Stock) →