Hyperliquid Strategies Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 3559.9× the size of Hyperliquid Strategies Tokenized Stock (Reality) (RPURR) by market capitalisation. Their daily returns move barely together (correlation 0.33 across 25 shared trading days). RPURR has been the more volatile of the two, at 91% annualised against SPCXB's 71%.

Correlation: 0.33
Size ratio: 1 : 3559.9

Hyperliquid Strategies Tokenized Stock (Reality)RPURR

$9.7800

24h: -0.37%
Market cap: $55,845
Volume 24h: $29,019
Volatility (ann.): 91%

SpaceX (bStocks Tokenized Stock)SPCXB

$126.7200

24h: -5.74%
Market cap: $198.80M
Volume 24h: $51.96M
Volatility (ann.): 71%

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

Performance

RPURRSPCXB

7 days-6.40%-6.33%SPCXB
30 days-0.45%-21.79%RPURR
90 days—+17.70%—

Correlation

0.33over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3390d: 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	RPURR	SPCXB
Max drawdown (400d)	-21.3%	-47.5%
Risk-adjusted return (90d)	0.00	0.28

Relative strength over 90 days: SPCXB outperformed RPURR by 13.1% — measured on the RPURR/SPCXB ratio, so it holds regardless of market direction.

Hyperliquid Strategies Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →