SpaceX (bStocks Tokenized Stock) (SPCXB) is 38426.2× the size of MaxLinear • Robinhood Token (MXL) by market capitalisation. Their daily returns move loosely together (correlation 0.57 across 33 shared trading days). MXL has been the more volatile of the two, at 137% annualised against SPCXB's 73%.
$44.4400
$131.7700
MXLSPCXB
0.57over 33 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 | MXL | SPCXB |
|---|---|---|
| Max drawdown (400d) | -59.3% | -47.5% |
| Risk-adjusted return (90d) | -0.38 | -0.15 |
Relative strength over 90 days: SPCXB outperformed MXL by 41.2% — measured on the MXL/SPCXB ratio, so it holds regardless of market direction.