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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 3988.3× the size of IBM Tokenized Stock (Reality) (RIBM) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.39 across 25 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against RIBM's 30%.

Correlation: -0.39
Size ratio: 1 : 3988.3

IBM Tokenized Stock (Reality)RIBM

$244.9900

24h: -3.65%
Market cap: $50,033
Volume 24h: $3,891
Volatility (ann.): 30%

SpaceX (bStocks Tokenized Stock)SPCXB

$127.6800

24h: -5.07%
Market cap: $199.55M
Volume 24h: $61.54M
Volatility (ann.): 73%

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

Performance

RIBMSPCXB

7 days+1.32%-12.85%RIBM
30 days-9.16%-27.86%RIBM
90 days—-8.57%—

Correlation

-0.39over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3990d: 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	RIBM	SPCXB
Max drawdown (400d)	-11.4%	-47.5%
Risk-adjusted return (90d)	-0.31	-0.15

Relative strength over 90 days: SPCXB outperformed RIBM by 20.3% — measured on the RIBM/SPCXB ratio, so it holds regardless of market direction.

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