ServiceNow • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 32547.6× the size of ServiceNow • Robinhood Token (NOW) by market capitalisation. Their daily returns move barely together (correlation 0.02 across 22 shared trading days). NOW has been the more volatile of the two, at 131% annualised against SPCXB's 73%.

Correlation: 0.02
Size ratio: 1 : 32547.6

ServiceNow • Robinhood TokenNOW

$108.3700

24h: -0.35%
Market cap: $6,071
Volume 24h: $26
Volatility (ann.): 131%

SpaceX (bStocks Tokenized Stock)SPCXB

$126.5200

24h: -5.95%
Market cap: $197.61M
Volume 24h: $62.11M
Volatility (ann.): 73%

NOW 0.0%Share of the two combined market caps100.0% SPCXB

Performance

NOWSPCXB

7 days-31.92%-12.85%SPCXB
30 days—-27.86%—
90 days—-8.57%—

Correlation

0.02over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	NOW	SPCXB
Max drawdown (400d)	-39.4%	-47.5%
Risk-adjusted return (90d)	-0.19	-0.15

Relative strength over 90 days: SPCXB outperformed NOW by 20.9% — measured on the NOW/SPCXB ratio, so it holds regardless of market direction.

ServiceNow • Robinhood Token →SpaceX (bStocks Tokenized Stock) →