Firefly Aerospace Inc. • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 22061.8× the size of Firefly Aerospace Inc. • Robinhood Token (FLY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.01 across 30 shared trading days). Both have run at a similar volatility, around 74% annualised.

Correlation: -0.01
Size ratio: 1 : 22061.8

Firefly Aerospace Inc. • Robinhood TokenFLY

$15.9900

24h: -4.57%
Market cap: $9,024
Volume 24h: $142
Volatility (ann.): 75%

SpaceX (bStocks Tokenized Stock)SPCXB

$127.4900

24h: -5.25%
Market cap: $199.09M
Volume 24h: $64.36M
Volatility (ann.): 73%

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

Performance

FLYSPCXB

7 days-13.26%-12.85%SPCXB
30 days-27.11%-27.86%FLY
90 days—-8.57%—

Correlation

-0.01over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0190d: 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	FLY	SPCXB
Max drawdown (400d)	-29.7%	-47.5%
Risk-adjusted return (90d)	-0.36	-0.15

Relative strength over 90 days: SPCXB outperformed FLY by 11.4% — measured on the FLY/SPCXB ratio, so it holds regardless of market direction.

Firefly Aerospace Inc. • Robinhood Token →SpaceX (bStocks Tokenized Stock) →