JPMorgan Chase Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 3869.5× the size of JPMorgan Chase Tokenized Stock (Reality) (RJPM) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.13 across 25 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against RJPM's 18%.

Correlation: -0.13
Size ratio: 1 : 3869.5

JPMorgan Chase Tokenized Stock (Reality)RJPM

$335.4000

24h: -4.71%
Market cap: $51,451
Volume 24h: $13,554
Volatility (ann.): 18%

SpaceX (bStocks Tokenized Stock)SPCXB

$127.4900

24h: -5.25%
Market cap: $199.09M
Volume 24h: $64.36M
Volatility (ann.): 73%

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

Performance

RJPMSPCXB

7 days+0.69%-12.85%RJPM
30 days-5.21%-27.86%RJPM
90 days—-8.57%—

Correlation

-0.13over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1390d: 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	RJPM	SPCXB
Max drawdown (400d)	-6.7%	-47.5%
Risk-adjusted return (90d)	-0.28	-0.15

Relative strength over 90 days: SPCXB outperformed RJPM by 13.8% — measured on the RJPM/SPCXB ratio, so it holds regardless of market direction.

JPMorgan Chase Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →