SpaceX (bStocks Tokenized Stock) (SPCXB) is 12501.5× the size of Microsoft aStock (AMSFT) by market capitalisation. Their daily returns move loosely together (correlation 0.38 across 31 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against AMSFT's 23%.
$125.2800
AMSFTSPCXB
0.38over 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 | AMSFT | SPCXB |
|---|---|---|
| Max drawdown (400d) | -4.6% | -47.5% |
| Risk-adjusted return (90d) | 0.12 | 0.28 |
Relative strength over 90 days: AMSFT outperformed SPCXB by 2.8% — measured on the AMSFT/SPCXB ratio, so it holds regardless of market direction.