SpaceX (bStocks Tokenized Stock) (SPCXB) is 402.5× the size of Roblox • Robinhood Token (RBLX) by market capitalisation. Their daily returns move barely together (correlation 0.04 across 39 shared trading days). RBLX has been the more volatile of the two, at 124% annualised against SPCXB's 71%.
$44.9700
$134.2200
RBLXSPCXB
0.04over 39 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 | RBLX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -19.7% | -47.5% |
| Risk-adjusted return (90d) | 0.09 | 0.45 |
Relative strength over 90 days: RBLX outperformed SPCXB by 13.0% — measured on the RBLX/SPCXB ratio, so it holds regardless of market direction.