SpaceX (bStocks Tokenized Stock) (SPCXB) is 12848.8× the size of NVIDIA (ST0x Tokenized Stock) (WTNVDA) by market capitalisation. Their daily returns move closely together (correlation 0.69 across 24 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against WTNVDA's 30%.
$184.7700
$126.5200
WTNVDASPCXB
0.69over 24 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 | WTNVDA | SPCXB |
|---|---|---|
| Max drawdown (400d) | -15.4% | -47.5% |
| Risk-adjusted return (90d) | -0.45 | -0.15 |
Relative strength over 90 days: WTNVDA outperformed SPCXB by 4.9% — measured on the WTNVDA/SPCXB ratio, so it holds regardless of market direction.