Palo Alto Networks Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 5748.1× the size of Palo Alto Networks Tokenized Stock (Reality) (RPANW) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 26 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against RPANW's 48%.

Correlation: -0.04
Size ratio: 1 : 5748.1

Palo Alto Networks Tokenized Stock (Reality)RPANW

$317.6700

24h: -8.02%
Market cap: $34,715
Volume 24h: $4,108
Volatility (ann.): 48%

SpaceX (bStocks Tokenized Stock)SPCXB

$127.5600

24h: -5.07%
Market cap: $199.55M
Volume 24h: $61.54M
Volatility (ann.): 73%

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

Performance

RPANWSPCXB

7 days-0.73%-12.85%RPANW
30 days+7.69%-27.86%RPANW
90 days—-8.57%—

Correlation

-0.04over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0490d: 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	RPANW	SPCXB
Max drawdown (400d)	-5.2%	-47.5%
Risk-adjusted return (90d)	0.16	-0.15

Relative strength over 90 days: SPCXB outperformed RPANW by 2.1% — measured on the RPANW/SPCXB ratio, so it holds regardless of market direction.

Palo Alto Networks Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →