SpaceX (bStocks Tokenized Stock) (SPCXB) is 104.6× the size of Intel • Robinhood Token (INTC) by market capitalisation. Their daily returns move barely together (correlation 0.30 across 37 shared trading days). INTC has been the more volatile of the two, at 125% annualised against SPCXB's 71%.
$135.3500
INTCSPCXB
0.30over 37 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) | -48.9% | -47.5% |
| Risk-adjusted return (90d) | -0.23 | 0.45 |
Relative strength over 90 days: SPCXB outperformed INTC by 27.0% — measured on the INTC/SPCXB ratio, so it holds regardless of market direction.