SpaceX (bStocks Tokenized Stock) (SPCXB) is 5.1× the size of Securitize (SECZ) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.08 across 51 shared trading days). SECZ has been the more volatile of the two, at 179% annualised against SPCXB's 71%.
$132.6000
SECZSPCXB
-0.08over 51 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 | SECZ | SPCXB |
|---|---|---|
| Max drawdown (400d) | -56.5% | -47.5% |
| Risk-adjusted return (90d) | 0.15 | 0.45 |
Relative strength over 90 days: SECZ outperformed SPCXB by 22.1% — measured on the SECZ/SPCXB ratio, so it holds regardless of market direction.