SpaceX (bStocks Tokenized Stock) (SPCXB) is 7934.7× the size of MicroStrategy Incorporated ST0x (WTMSTR) by market capitalisation. Their daily returns move barely together (correlation 0.01 across 36 shared trading days). WTMSTR has been the more volatile of the two, at 67628443% annualised against SPCXB's 73%.
$129.1500
$127.4900
WTMSTRSPCXB
0.01over 36 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 | WTMSTR | SPCXB |
|---|---|---|
| Max drawdown (400d) | -100.0% | -47.5% |
| Risk-adjusted return (90d) | 0.00 | -0.15 |
Relative strength over 90 days: SPCXB outperformed WTMSTR by 1.5% — measured on the WTMSTR/SPCXB ratio, so it holds regardless of market direction.