International Business Machines Corporation • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 454.3× the size of International Business Machines Corporation • Robinhood Token (IBM) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.35 across 36 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against IBM's 56%.

Correlation: -0.35
Size ratio: 1 : 454.3

International Business Machines Corporation • Robinhood TokenIBM

$247.7500

24h: -1.55%
Market cap: $437,009
Volume 24h: $19,214
Volatility (ann.): 56%

SpaceX (bStocks Tokenized Stock)SPCXB

$135.5800

24h: -0.83%
Market cap: $198.53M
Volume 24h: $45.25M
Volatility (ann.): 71%

IBM 0.2%Share of the two combined market caps99.8% SPCXB

Performance

IBMSPCXB

7 days+17.51%-5.60%IBM
30 days+7.39%-11.42%IBM
90 days—+28.18%—

Correlation

-0.35over 36 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4190d: 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	IBM	SPCXB
Max drawdown (400d)	-12.5%	-47.5%
Risk-adjusted return (90d)	0.23	0.45

Relative strength over 90 days: IBM outperformed SPCXB by 16.6% — measured on the IBM/SPCXB ratio, so it holds regardless of market direction.

International Business Machines Corporation • Robinhood Token →SpaceX (bStocks Tokenized Stock) →