SpaceX (bStocks Tokenized Stock) (SPCXB) is 334026.2× the size of Micron Technology aStock (AMU) by market capitalisation. Their daily returns move loosely together (correlation 0.39 across 31 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against AMU's 50%.
$134.1600
AMUSPCXB
0.39over 31 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 | AMU | SPCXB |
|---|---|---|
| Max drawdown (400d) | -21.4% | -47.5% |
| Risk-adjusted return (90d) | -0.32 | 0.28 |
Relative strength over 90 days: SPCXB outperformed AMU by 16.0% — measured on the AMU/SPCXB ratio, so it holds regardless of market direction.