SpaceX (bStocks Tokenized Stock) (SPCXB) is 19.3× the size of SK Hynix xStock (SKHYX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.20 across 38 shared trading days). SKHYX has been the more volatile of the two, at 92% annualised against SPCXB's 71%.
$132.8600
SKHYXSPCXB
-0.20over 38 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 | SKHYX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -25.7% | -47.5% |
| Risk-adjusted return (90d) | -0.08 | 0.45 |
Relative strength over 90 days: SPCXB outperformed SKHYX by 4.8% — measured on the SKHYX/SPCXB ratio, so it holds regardless of market direction.