SpaceX (bStocks Tokenized Stock) (SPCXB) is 3429.5× the size of Intel (Dinari Tokenized Stock) (INTC) by market capitalisation. Their daily returns move barely together (correlation 0.19 across 27 shared trading days). Both have run at a similar volatility, around 76% annualised.
$57.5300
$123.1500
INTCSPCXB
0.19over 27 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 | INTC | SPCXB |
|---|---|---|
| Max drawdown (400d) | -8.9% | -47.5% |
| Risk-adjusted return (90d) | 0.43 | 0.28 |
Relative strength over 90 days: INTC outperformed SPCXB by 27.5% — measured on the INTC/SPCXB ratio, so it holds regardless of market direction.