SpaceX (bStocks Tokenized Stock) (SPCXB) is 215.0× the size of Oracle Tokenized Stock (Reality) (RORCL) by market capitalisation. Their daily returns move loosely together (correlation 0.55 across 25 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against RORCL's 46%.
$122.4500
$132.9400
RORCLSPCXB
0.55over 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 | RORCL | SPCXB |
|---|---|---|
| Max drawdown (400d) | -11.8% | -47.5% |
| Risk-adjusted return (90d) | -0.07 | 0.28 |
Relative strength over 90 days: SPCXB outperformed RORCL by 14.9% — measured on the RORCL/SPCXB ratio, so it holds regardless of market direction.