SpaceX (bStocks Tokenized Stock) (SPCXB) is 4544.3× the size of Petrobras Tokenized Stock (Reality) (RPBR) by market capitalisation. Their daily returns move barely together (correlation 0.30 across 25 shared trading days). Both have run at a similar volatility, around 76% annualised.
$19.6000
$134.4600
RPBRSPCXB
0.30over 25 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 | RPBR | SPCXB |
|---|---|---|
| Max drawdown (400d) | -16.3% | -47.5% |
| Risk-adjusted return (90d) | 0.02 | 0.28 |
Relative strength over 90 days: RPBR outperformed SPCXB by 15.3% — measured on the RPBR/SPCXB ratio, so it holds regardless of market direction.