SpaceX (bStocks Tokenized Stock) (SPCXB) is 109183.8× the size of Okta Tokenized Stock (Reality) (ROKTA) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 25 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against ROKTA's 54%.
$188.3200
$123.1500
ROKTASPCXB
0.24over 25 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 | ROKTA | SPCXB |
|---|---|---|
| Max drawdown (400d) | -10.2% | -47.5% |
| Risk-adjusted return (90d) | 0.21 | 0.28 |
Relative strength over 90 days: ROKTA outperformed SPCXB by 16.0% — measured on the ROKTA/SPCXB ratio, so it holds regardless of market direction.