SpaceX (bStocks Tokenized Stock) (SPCXB) is 356.2× the size of Reddit (bStocks Tokenized Stock) (RDDTB) by market capitalisation. Their daily returns move barely together (correlation 0.28 across 49 shared trading days). Both have run at a similar volatility, around 76% annualised.
$103.7100
$136.6600
RDDTBSPCXB
0.28over 49 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 | RDDTB | SPCXB |
|---|---|---|
| Max drawdown (400d) | -43.2% | -47.5% |
| Risk-adjusted return (90d) | -0.49 | 0.45 |
Relative strength over 90 days: SPCXB outperformed RDDTB by 34.5% — measured on the RDDTB/SPCXB ratio, so it holds regardless of market direction.