Firefly Aerospace Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 3823.1× the size of Firefly Aerospace Tokenized Stock (Reality) (RFLY) by market capitalisation. Their daily returns move barely together (correlation 0.22 across 26 shared trading days). Both have run at a similar volatility, around 75% annualised.

Correlation: 0.22
Size ratio: 1 : 3823.1

Firefly Aerospace Tokenized Stock (Reality)RFLY

$16.8700

24h: +0.70%
Market cap: $52,000
Volume 24h: $23,757
Volatility (ann.): 79%

SpaceX (bStocks Tokenized Stock)SPCXB

$126.7200

24h: -5.74%
Market cap: $198.80M
Volume 24h: $51.96M
Volatility (ann.): 71%

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

Performance

RFLYSPCXB

7 days-22.60%-6.33%SPCXB
30 days-18.55%-21.79%RFLY
90 days—+17.70%—

Correlation

0.22over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2290d: 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	RFLY	SPCXB
Max drawdown (400d)	-31.8%	-47.5%
Risk-adjusted return (90d)	-0.23	0.28

Relative strength over 90 days: SPCXB outperformed RFLY by 21.5% — measured on the RFLY/SPCXB ratio, so it holds regardless of market direction.

Firefly Aerospace Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →