HP Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 7022.7× the size of HP Tokenized Stock (Reality) (RHPQ) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.06 across 25 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against RHPQ's 52%.

Correlation: -0.06
Size ratio: 1 : 7022.7

HP Tokenized Stock (Reality)RHPQ

$28.4300

24h: -0.21%
Market cap: $28,647
Volume 24h: $99
Volatility (ann.): 52%

SpaceX (bStocks Tokenized Stock)SPCXB

$135.0900

24h: -4.64%
Market cap: $201.18M
Volume 24h: $72.10M
Volatility (ann.): 71%

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

Performance

RHPQSPCXB

7 days-5.58%-5.60%RHPQ
30 days-9.97%-11.42%RHPQ
90 days—+28.18%—

Correlation

-0.06over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0690d: 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	RHPQ	SPCXB
Max drawdown (400d)	-13.8%	-47.5%
Risk-adjusted return (90d)	-0.19	0.45

Relative strength over 90 days: SPCXB outperformed RHPQ by 13.3% — measured on the RHPQ/SPCXB ratio, so it holds regardless of market direction.

HP Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →