SpaceX (bStocks Tokenized Stock) (SPCXB) is 81.7× the size of SpaceX (Coinbase Tokenized Stock) (SPCXC) by market capitalisation. Their daily returns move closely together (correlation 0.85 across 35 shared trading days). Both have run at a similar volatility, around 68% annualised.
$136.0900
$132.9400
SPCXCSPCXB
0.85over 35 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 | SPCXC | SPCXB |
|---|---|---|
| Max drawdown (400d) | -22.6% | -47.5% |
| Risk-adjusted return (90d) | -0.15 | 0.28 |
Relative strength over 90 days: SPCXB outperformed SPCXC by 0.1% — measured on the SPCXC/SPCXB ratio, so it holds regardless of market direction.