SpaceX (bStocks Tokenized Stock) (SPCXB) is 388.1× the size of GoPro (bStocks Tokenized Stock) (GPROB) by market capitalisation. Their daily returns move loosely together (correlation 0.38 across 49 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against GPROB's 58%.
$0.980000
$136.7300
GPROBSPCXB
0.38over 49 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 | GPROB | SPCXB |
|---|---|---|
| Max drawdown (400d) | -28.9% | -47.5% |
| Risk-adjusted return (90d) | -0.38 | 0.45 |
Relative strength over 90 days: SPCXB outperformed GPROB by 16.0% — measured on the GPROB/SPCXB ratio, so it holds regardless of market direction.