SpaceX (bStocks Tokenized Stock) (SPCXB) is 225577.4× the size of SK Hynix (Anchored Tokenized Stock) (ASKHY) by market capitalisation. Their daily returns move loosely together (correlation 0.47 across 31 shared trading days). Both have run at a similar volatility, around 68% annualised.
$145.7000
$134.3200
ASKHYSPCXB
0.47over 31 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 | ASKHY | SPCXB |
|---|---|---|
| Max drawdown (400d) | -32.4% | -47.5% |
| Risk-adjusted return (90d) | -0.38 | 0.28 |
Relative strength over 90 days: SPCXB outperformed ASKHY by 24.6% — measured on the ASKHY/SPCXB ratio, so it holds regardless of market direction.