SpaceX (bStocks Tokenized Stock) (SPCXB) is 548638.9× the size of Nebius Group aStock (ANBIS) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 31 shared trading days). ANBIS has been the more volatile of the two, at 84% annualised against SPCXB's 71%.
$134.1600
ANBISSPCXB
0.41over 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 | ANBIS | SPCXB |
|---|---|---|
| Max drawdown (400d) | -38.0% | -47.5% |
| Risk-adjusted return (90d) | -0.41 | 0.28 |
Relative strength over 90 days: SPCXB outperformed ANBIS by 34.8% — measured on the ANBIS/SPCXB ratio, so it holds regardless of market direction.