Netflix Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 269.2× the size of Netflix Tokenized Stock (Reality) (RNFLX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.03 across 25 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against RNFLX's 32%.

Correlation: -0.03
Size ratio: 1 : 269.2

Netflix Tokenized Stock (Reality)RNFLX

$66.4100

24h: +6.01%
Market cap: $749,597
Volume 24h: $24,219
Volatility (ann.): 32%

SpaceX (bStocks Tokenized Stock)SPCXB

$127.6200

24h: -5.04%
Market cap: $201.81M
Volume 24h: $60.61M
Volatility (ann.): 73%

RNFLX 0.4%Share of the two combined market caps99.6% SPCXB

Performance

RNFLXSPCXB

7 days+6.79%-12.85%RNFLX
30 days-8.10%-27.86%RNFLX
90 days—-8.57%—

Correlation

-0.03over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0390d: 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	RNFLX	SPCXB
Max drawdown (400d)	-13.9%	-47.5%
Risk-adjusted return (90d)	-0.25	-0.15

Relative strength over 90 days: SPCXB outperformed RNFLX by 19.4% — measured on the RNFLX/SPCXB ratio, so it holds regardless of market direction.

Netflix Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →