Krispy Kreme, Inc. Common Stock (Backpack Securities) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 2492.7× the size of Krispy Kreme, Inc. Common Stock (Backpack Securities) (DNUT) by market capitalisation. Their daily returns move closely in opposite directions (correlation -0.73 across 21 shared trading days). DNUT has been the more volatile of the two, at 130% annualised against SPCXB's 73%.

Correlation: -0.73
Size ratio: 1 : 2492.7

Krispy Kreme, Inc. Common Stock (Backpack Securities)DNUT

$4.4300

24h: +28.21%
Market cap: $81,344
Volume 24h: $1.16M
Volatility (ann.): 130%

SpaceX (bStocks Tokenized Stock)SPCXB

$128.6200

24h: -4.18%
Market cap: $202.76M
Volume 24h: $76.36M
Volatility (ann.): 73%

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

Performance

DNUTSPCXB

7 days+41.77%-12.85%DNUT
30 days—-27.86%—
90 days—-8.57%—

Correlation

-0.73over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	DNUT	SPCXB
Max drawdown (400d)	-7.0%	-47.5%
Risk-adjusted return (90d)	0.43	-0.15

Relative strength over 90 days: DNUT outperformed SPCXB by 101.9% — measured on the DNUT/SPCXB ratio, so it holds regardless of market direction.

Krispy Kreme, Inc. Common Stock (Backpack Securities) →SpaceX (bStocks Tokenized Stock) →