Penguin Solutions • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 2646.5× the size of Penguin Solutions • Robinhood Token (PENG) by market capitalisation. Their daily returns move loosely together (correlation 0.50 across 35 shared trading days). PENG has been the more volatile of the two, at 122% annualised against SPCXB's 71%.

Correlation: 0.50
Size ratio: 1 : 2646.5

Penguin Solutions • Robinhood TokenPENG

$47.7700

24h: -8.32%
Market cap: $69,417
Volume 24h: $35,398
Volatility (ann.): 122%

SpaceX (bStocks Tokenized Stock)SPCXB

$124.3500

24h: -11.19%
Market cap: $183.71M
Volume 24h: $35.96M
Volatility (ann.): 71%

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

Performance

PENGSPCXB

7 days-18.41%-6.33%SPCXB
30 days-20.12%-21.79%PENG
90 days—+17.70%—

Correlation

0.50over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4790d: 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	PENG	SPCXB
Max drawdown (400d)	-39.2%	-47.5%
Risk-adjusted return (90d)	-0.09	0.28

Relative strength over 90 days: SPCXB outperformed PENG by 1.9% — measured on the PENG/SPCXB ratio, so it holds regardless of market direction.

Penguin Solutions • Robinhood Token →SpaceX (bStocks Tokenized Stock) →