SpaceX (bStocks Tokenized Stock) (SPCXB) is 1956.8× the size of Linde xStock (LINX) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.45 across 27 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against LINX's 49%.
$131.9200
LINXSPCXB
-0.45over 27 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 | LINX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -7.5% | -47.5% |
| Risk-adjusted return (90d) | 0.26 | 0.28 |
Relative strength over 90 days: LINX outperformed SPCXB by 22.0% — measured on the LINX/SPCXB ratio, so it holds regardless of market direction.