Fortinet, Inc. • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 47699.4× the size of Fortinet, Inc. • Robinhood Token (FTNT) by market capitalisation. Their daily returns move loosely together (correlation 0.39 across 20 shared trading days). FTNT has been the more volatile of the two, at 115% annualised against SPCXB's 71%.

Correlation: 0.39
Size ratio: 1 : 47699.4

Fortinet, Inc. • Robinhood TokenFTNT

$127.2200

24h: —
Market cap: $3,899
Volume 24h: $125
Volatility (ann.): 115%

SpaceX (bStocks Tokenized Stock)SPCXB

$123.1500

24h: -9.98%
Market cap: $185.96M
Volume 24h: $47.36M
Volatility (ann.): 71%

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

Performance

FTNTSPCXB

7 days-26.26%-6.33%SPCXB
30 days—-21.79%—
90 days—+17.70%—

Correlation

0.39over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	FTNT	SPCXB
Max drawdown (400d)	-32.4%	-47.5%
Risk-adjusted return (90d)	—	0.28

Relative strength over 90 days: SPCXB outperformed FTNT by 18.4% — measured on the FTNT/SPCXB ratio, so it holds regardless of market direction.

Fortinet, Inc. • Robinhood Token →SpaceX (bStocks Tokenized Stock) →