SpaceX (bStocks Tokenized Stock) (SPCXB) is 156.0× the size of MARA xStock (MARAX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.08 across 37 shared trading days). MARAX has been the more volatile of the two, at 8313% annualised against SPCXB's 71%.
$123.8300
MARAXSPCXB
-0.08over 37 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 | MARAX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -98.9% | -47.5% |
| Risk-adjusted return (90d) | -0.01 | 0.28 |
Relative strength over 90 days: SPCXB outperformed MARAX by 88.7% — measured on the MARAX/SPCXB ratio, so it holds regardless of market direction.