SpaceX (bStocks Tokenized Stock) (SPCXB) is 100.7× the size of MicroStrategy (Coinbase Tokenized Stock) (MSTRC) by market capitalisation. Their daily returns move loosely together (correlation 0.40 across 35 shared trading days). Both have run at a similar volatility, around 69% annualised.
$132.2800
$132.9400
MSTRCSPCXB
0.40over 35 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 | MSTRC | SPCXB |
|---|---|---|
| Max drawdown (400d) | -22.7% | -47.5% |
| Risk-adjusted return (90d) | -0.12 | 0.28 |
Relative strength over 90 days: MSTRC outperformed SPCXB by 2.1% — measured on the MSTRC/SPCXB ratio, so it holds regardless of market direction.