SpaceX (bStocks Tokenized Stock) (SPCXB) is 2769.1× the size of Ero Copper (Dinari Tokenized Stock) (ERO) by market capitalisation. Their daily returns move barely together (correlation 0.34 across 28 shared trading days). Both have run at a similar volatility, around 71% annualised.
$30.4900
$123.4800
EROSPCXB
0.34over 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 | ERO | SPCXB |
|---|---|---|
| Max drawdown (400d) | -15.5% | -47.5% |
| Risk-adjusted return (90d) | 0.11 | 0.28 |
Relative strength over 90 days: ERO outperformed SPCXB by 1.4% — measured on the ERO/SPCXB ratio, so it holds regardless of market direction.