Red Cat Holdings, Inc. • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 2960.5× the size of Red Cat Holdings, Inc. • Robinhood Token (RCAT) by market capitalisation. Their daily returns move barely together (correlation 0.09 across 36 shared trading days). RCAT has been the more volatile of the two, at 123% annualised against SPCXB's 71%.

Correlation: 0.09
Size ratio: 1 : 2960.5

Red Cat Holdings, Inc. • Robinhood TokenRCAT

$4.0200

24h: -10.67%
Market cap: $62,053
Volume 24h: $10,043
Volatility (ann.): 123%

SpaceX (bStocks Tokenized Stock)SPCXB

$123.5700

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

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

Performance

RCATSPCXB

7 days-30.23%-6.33%SPCXB
30 days-47.06%-21.79%SPCXB
90 days—+17.70%—

Correlation

0.09over 36 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0790d: 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	RCAT	SPCXB
Max drawdown (400d)	-56.3%	-47.5%
Risk-adjusted return (90d)	-0.38	0.28

Relative strength over 90 days: SPCXB outperformed RCAT by 43.7% — measured on the RCAT/SPCXB ratio, so it holds regardless of market direction.

Red Cat Holdings, Inc. • Robinhood Token →SpaceX (bStocks Tokenized Stock) →