SpaceX (bStocks Tokenized Stock) (SPCXB) is 130.6× the size of Reddit • Robinhood Token (RDDT) by market capitalisation. Their daily returns move barely together (correlation 0.09 across 38 shared trading days). RDDT has been the more volatile of the two, at 90% annualised against SPCXB's 71%.
$136.5600
RDDTSPCXB
0.09over 38 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 | RDDT | SPCXB |
|---|---|---|
| Max drawdown (400d) | -43.7% | -47.5% |
| Risk-adjusted return (90d) | -0.48 | 0.45 |
Relative strength over 90 days: SPCXB outperformed RDDT by 42.5% — measured on the RDDT/SPCXB ratio, so it holds regardless of market direction.