SpaceX (bStocks Tokenized Stock) (SPCXB) is 4.0× the size of NVIDIA xStock (NVDAX) by market capitalisation. Their daily returns move barely together (correlation 0.25 across 52 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against NVDAX's 44%.
$134.2200
NVDAXSPCXB
0.25over 52 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 | NVDAX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -12.1% | -47.5% |
| Risk-adjusted return (90d) | -0.07 | 0.45 |
Relative strength over 90 days: SPCXB outperformed NVDAX by 7.2% — measured on the NVDAX/SPCXB ratio, so it holds regardless of market direction.