Qualcomm Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 502.2× the size of Qualcomm Tokenized Stock (Reality) (RQCOM) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 25 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against RQCOM's 61%.

Correlation: 0.06
Size ratio: 1 : 502.2

Qualcomm Tokenized Stock (Reality)RQCOM

$159.7000

24h: -2.54%
Market cap: $388,871
Volume 24h: $64
Volatility (ann.): 61%

SpaceX (bStocks Tokenized Stock)SPCXB

$133.4400

24h: -2.81%
Market cap: $195.30M
Volume 24h: $66.65M
Volatility (ann.): 71%

RQCOM 0.2%Share of the two combined market caps99.8% SPCXB

Performance

RQCOMSPCXB

7 days-4.79%-6.33%RQCOM
30 days-6.23%-21.79%RQCOM
90 days—+17.70%—

Correlation

0.06over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0690d: 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	RQCOM	SPCXB
Max drawdown (400d)	-13.6%	-47.5%
Risk-adjusted return (90d)	-0.10	0.28

Relative strength over 90 days: SPCXB outperformed RQCOM by 17.7% — measured on the RQCOM/SPCXB ratio, so it holds regardless of market direction.

Qualcomm Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →