SpaceX (bStocks Tokenized Stock) (SPCXB) is 27912.1× the size of MongoDB • Robinhood Token (MDB) by market capitalisation. Their daily returns move barely together (correlation 0.10 across 28 shared trading days). MDB has been the more volatile of the two, at 18902% annualised against SPCXB's 73%.
$126.5200
MDBSPCXB
0.10over 28 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 | MDB | SPCXB |
|---|---|---|
| Max drawdown (400d) | -98.3% | -47.5% |
| Risk-adjusted return (90d) | 0.00 | -0.15 |
Relative strength over 90 days: MDB outperformed SPCXB by 16.1% — measured on the MDB/SPCXB ratio, so it holds regardless of market direction.