International Business Machines xStock vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 180.2× the size of International Business Machines xStock (IBMX) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 28 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against IBMX's 58%.

Correlation: 0.06
Size ratio: 1 : 180.2

International Business Machines xStockIBMX

$249.5800

24h: -0.85%
Market cap: $1.10M
Volume 24h: $8,632
Volatility (ann.): 58%

SpaceX (bStocks Tokenized Stock)SPCXB

$135.5800

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

IBMX 0.6%Share of the two combined market caps99.4% SPCXB

Performance

IBMXSPCXB

7 days-7.13%-5.60%SPCXB
30 days-5.70%-11.42%IBMX
90 days—+28.18%—

Correlation

0.06over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0690d: 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	IBMX	SPCXB
Max drawdown (400d)	-13.5%	-47.5%
Risk-adjusted return (90d)	-0.10	0.45

Relative strength over 90 days: SPCXB outperformed IBMX by 3.8% — measured on the IBMX/SPCXB ratio, so it holds regardless of market direction.

International Business Machines xStock →SpaceX (bStocks Tokenized Stock) →