Marvell Technology (Backpack Securities) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 944.4× the size of Marvell Technology (Backpack Securities) (MRVL) by market capitalisation. Their daily returns move barely together (correlation 0.32 across 39 shared trading days). MRVL has been the more volatile of the two, at 92% annualised against SPCXB's 71%.

Correlation: 0.32
Size ratio: 1 : 944.4

Marvell Technology (Backpack Securities)MRVL

$156.9000

24h: -5.63%
Market cap: $196,848
Volume 24h: $92,153
Volatility (ann.): 92%

SpaceX (bStocks Tokenized Stock)SPCXB

$123.8300

24h: -8.34%
Market cap: $185.90M
Volume 24h: $35.87M
Volatility (ann.): 71%

MRVL 0.1%Share of the two combined market caps99.9% SPCXB

Performance

MRVLSPCXB

7 days-36.72%-6.33%SPCXB
30 days-32.42%-21.79%SPCXB
90 days—+17.70%—

Correlation

0.32over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4690d: 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	MRVL	SPCXB
Max drawdown (400d)	-40.0%	-47.5%
Risk-adjusted return (90d)	-0.27	0.28

Relative strength over 90 days: SPCXB outperformed MRVL by 20.5% — measured on the MRVL/SPCXB ratio, so it holds regardless of market direction.

Marvell Technology (Backpack Securities) →SpaceX (bStocks Tokenized Stock) →