Palatin Technologies, Inc. Common Stock (Backpack Securities) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 2665.4× the size of Palatin Technologies, Inc. Common Stock (Backpack Securities) (PTN) by market capitalisation. Their daily returns move barely together (correlation 0.31 across 21 shared trading days). PTN has been the more volatile of the two, at 142% annualised against SPCXB's 73%.

Correlation: 0.31
Size ratio: 1 : 2665.4

Palatin Technologies, Inc. Common Stock (Backpack Securities)PTN

$5.4600

24h: -11.51%
Market cap: $79,222
Volume 24h: $40,077
Volatility (ann.): 142%

SpaceX (bStocks Tokenized Stock)SPCXB

$134.7500

24h: +5.95%
Market cap: $211.16M
Volume 24h: $85.45M
Volatility (ann.): 73%

PTN 0.0%Share of the two combined market caps100.0% SPCXB

Performance

PTNSPCXB

7 days+7.65%-12.85%PTN
30 days—-27.86%—
90 days—-8.57%—

Correlation

0.31over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	PTN	SPCXB
Max drawdown (400d)	-47.4%	-47.5%
Risk-adjusted return (90d)	-0.28	-0.15

Relative strength over 90 days: SPCXB outperformed PTN by 22.0% — measured on the PTN/SPCXB ratio, so it holds regardless of market direction.

Palatin Technologies, Inc. Common Stock (Backpack Securities) →SpaceX (bStocks Tokenized Stock) →