SK Hynix (Backpack Securities) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 59.2× the size of SK Hynix (Backpack Securities) (SKHY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.08 across 37 shared trading days). SKHY has been the more volatile of the two, at 102% annualised against SPCXB's 71%.

Correlation: -0.08
Size ratio: 1 : 59.2

SK Hynix (Backpack Securities)SKHY

$145.4400

24h: -3.07%
Market cap: $3.37M
Volume 24h: $2.99M
Volatility (ann.): 102%

SpaceX (bStocks Tokenized Stock)SPCXB

$136.5600

24h: -1.13%
Market cap: $199.56M
Volume 24h: $46.45M
Volatility (ann.): 71%

SKHY 1.7%Share of the two combined market caps98.3% SPCXB

Performance

SKHYSPCXB

7 days-17.99%-5.60%SPCXB
30 days-15.17%-11.42%SPCXB
90 days—+28.18%—

Correlation

-0.08over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0690d: 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	SKHY	SPCXB
Max drawdown (400d)	-27.6%	-47.5%
Risk-adjusted return (90d)	-0.08	0.45

Relative strength over 90 days: SPCXB outperformed SKHY by 6.8% — measured on the SKHY/SPCXB ratio, so it holds regardless of market direction.

SK Hynix (Backpack Securities) →SpaceX (bStocks Tokenized Stock) →