Salesforce (bStocks Tokenized Stock) (CRMB) and SpaceX (bStocks Tokenized Stock) (SPCXB) compared side by side. Their daily returns move barely in opposite directions (correlation -0.20 across 56 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against CRMB's 36%.
$223.0200
$136.1800
CRMBSPCXB
-0.20over 56 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 | CRMB | SPCXB |
|---|---|---|
| Max drawdown (400d) | -14.4% | -47.5% |
| Risk-adjusted return (90d) | -0.27 | 0.45 |
Relative strength over 90 days: SPCXB outperformed CRMB by 5.8% — measured on the CRMB/SPCXB ratio, so it holds regardless of market direction.