Fabrinet Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 8134.2× the size of Fabrinet Tokenized Stock (Reality) (RFN) by market capitalisation. Their daily returns move barely together (correlation 0.09 across 25 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against RFN's 61%.

Correlation: 0.09
Size ratio: 1 : 8134.2

Fabrinet Tokenized Stock (Reality)RFN

$336.7700

24h: -3.95%
Market cap: $22,585
Volume 24h: $1,621
Volatility (ann.): 61%

SpaceX (bStocks Tokenized Stock)SPCXB

$124.3500

24h: -11.19%
Market cap: $183.71M
Volume 24h: $35.96M
Volatility (ann.): 71%

RFN 0.0%Share of the two combined market caps100.0% SPCXB

Performance

RFNSPCXB

7 days+0.32%-6.33%RFN
30 days+21.24%-21.79%RFN
90 days—+17.70%—

Correlation

0.09over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0990d: 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	RFN	SPCXB
Max drawdown (400d)	-8.7%	-47.5%
Risk-adjusted return (90d)	0.35	0.28

Relative strength over 90 days: RFN outperformed SPCXB by 10.3% — measured on the RFN/SPCXB ratio, so it holds regardless of market direction.

Fabrinet Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →