SpaceX (bStocks Tokenized Stock) (SPCXB) is 6069.5× the size of Playboy (ST0x Tokenized Stock) (WTPLBY) by market capitalisation. Their daily returns move barely together (correlation 0.14 across 34 shared trading days). Both have run at a similar volatility, around 70% annualised.
$1.3600
$123.5200
WTPLBYSPCXB
0.14over 34 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 | WTPLBY | SPCXB |
|---|---|---|
| Max drawdown (400d) | -6.2% | -47.5% |
| Risk-adjusted return (90d) | 0.53 | 0.28 |
Relative strength over 90 days: WTPLBY outperformed SPCXB by 49.9% — measured on the WTPLBY/SPCXB ratio, so it holds regardless of market direction.