SpaceX (bStocks Tokenized Stock) (SPCXB) is 45.1× the size of Oracle xStock (ORCLX) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 38 shared trading days). Both have run at a similar volatility, around 72% annualised.
$135.0900
ORCLXSPCXB
0.23over 38 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 | ORCLX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -26.5% | -47.5% |
| Risk-adjusted return (90d) | -0.29 | 0.45 |
Relative strength over 90 days: SPCXB outperformed ORCLX by 19.7% — measured on the ORCLX/SPCXB ratio, so it holds regardless of market direction.