SpaceX (bStocks Tokenized Stock) (SPCXB) is 5698.6× the size of Sunrun Inc. • Robinhood Token (RUN) by market capitalisation. Their daily returns move barely together (correlation 0.01 across 34 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against RUN's 58%.
$9.4900
$123.5200
RUNSPCXB
0.01over 34 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 | RUN | SPCXB |
|---|---|---|
| Max drawdown (400d) | -7.1% | -47.5% |
| Risk-adjusted return (90d) | 0.30 | 0.28 |
Relative strength over 90 days: RUN outperformed SPCXB by 29.6% — measured on the RUN/SPCXB ratio, so it holds regardless of market direction.