Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 2.1× the size of SpaceX xStock (SPCXX) by market capitalisation. Their daily returns move loosely together (correlation 0.50 across 53 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against SPCXX's 44%.
$76.9800
SPCXXCRCLB
0.50over 53 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 | SPCXX | CRCLB |
|---|---|---|
| Max drawdown (400d) | -13.5% | -31.5% |
| Risk-adjusted return (90d) | 0.09 | 0.25 |
Relative strength over 90 days: SPCXX outperformed CRCLB by 22.7% — measured on the SPCXX/CRCLB ratio, so it holds regardless of market direction.