SpaceX (bStocks Tokenized Stock) (SPCXB) is 73.4× the size of GameStop • Robinhood Token (GME) by market capitalisation. Their daily returns move barely together (correlation 0.03 across 40 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against GME's 43%.
$23.9900
$134.2200
GMESPCXB
0.03over 40 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 | GME | SPCXB |
|---|---|---|
| Max drawdown (400d) | -6.5% | -47.5% |
| Risk-adjusted return (90d) | 0.70 | 0.45 |
Relative strength over 90 days: GME outperformed SPCXB by 28.8% — measured on the GME/SPCXB ratio, so it holds regardless of market direction.