Moderna, Inc. • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 376.8× the size of Moderna, Inc. • Robinhood Token (MRNA) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.07 across 39 shared trading days). MRNA has been the more volatile of the two, at 94% annualised against SPCXB's 71%.

Correlation: -0.07
Size ratio: 1 : 376.8

Moderna, Inc. • Robinhood TokenMRNA

$225.7200

24h: +2.36%
Market cap: $526,882
Volume 24h: $370,702
Volatility (ann.): 94%

SpaceX (bStocks Tokenized Stock)SPCXB

$135.5800

24h: -0.83%
Market cap: $198.53M
Volume 24h: $45.25M
Volatility (ann.): 71%

MRNA 0.3%Share of the two combined market caps99.7% SPCXB

Performance

MRNASPCXB

7 days+25.51%-5.60%MRNA
30 days+62.08%-11.42%MRNA
90 days—+28.18%—

Correlation

-0.07over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0590d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	MRNA	SPCXB
Max drawdown (400d)	-12.6%	-47.5%
Risk-adjusted return (90d)	0.65	0.45

Relative strength over 90 days: MRNA outperformed SPCXB by 64.3% — measured on the MRNA/SPCXB ratio, so it holds regardless of market direction.

Moderna, Inc. • Robinhood Token →SpaceX (bStocks Tokenized Stock) →