Permian Resources • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 35485.8× the size of Permian Resources • Robinhood Token (PR) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.18 across 23 shared trading days). Both have run at a similar volatility, around 74% annualised.

Correlation: -0.18
Size ratio: 1 : 35485.8

Permian Resources • Robinhood TokenPR

$22.1200

24h: -7.94%
Market cap: $5,606
Volume 24h: $3
Volatility (ann.): 74%

SpaceX (bStocks Tokenized Stock)SPCXB

$126.9600

24h: -5.29%
Market cap: $198.92M
Volume 24h: $64.03M
Volatility (ann.): 73%

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

Performance

PRSPCXB

7 days-2.53%-12.85%PR
30 days—-27.86%—
90 days—-8.57%—

Correlation

-0.18over 23 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	PR	SPCXB
Max drawdown (400d)	-11.8%	-47.5%
Risk-adjusted return (90d)	0.19	-0.15

Relative strength over 90 days: PR outperformed SPCXB by 38.4% — measured on the PR/SPCXB ratio, so it holds regardless of market direction.

Permian Resources • Robinhood Token →SpaceX (bStocks Tokenized Stock) →