SpaceX (bStocks Tokenized Stock) (SPCXB) is 1538.1× the size of Nu • Robinhood Token (NU) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 39 shared trading days). Both have run at a similar volatility, around 69% annualised.
$133.1200
NUSPCXB
0.23over 39 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 | NU | SPCXB |
|---|---|---|
| Max drawdown (400d) | -29.7% | -47.5% |
| Risk-adjusted return (90d) | -0.28 | 0.28 |
Relative strength over 90 days: SPCXB outperformed NU by 14.3% — measured on the NU/SPCXB ratio, so it holds regardless of market direction.