SpaceX (bStocks Tokenized Stock) (SPCXB) is 96.7× the size of Gamestop xStock (GMEX) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 38 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against GMEX's 48%.
$138.2200
GMEXSPCXB
0.05over 38 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 | GMEX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -6.7% | -47.5% |
| Risk-adjusted return (90d) | 0.67 | 0.45 |
Relative strength over 90 days: GMEX outperformed SPCXB by 37.9% — measured on the GMEX/SPCXB ratio, so it holds regardless of market direction.