SpaceX (bStocks Tokenized Stock) (SPCXB) is 348013.5× the size of Super Micro Computer aStock (ASMCI) by market capitalisation. Their daily returns move loosely together (correlation 0.38 across 31 shared trading days). Both have run at a similar volatility, around 71% annualised.
$132.9400
ASMCISPCXB
0.38over 31 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 | ASMCI | SPCXB |
|---|---|---|
| Max drawdown (400d) | -30.4% | -47.5% |
| Risk-adjusted return (90d) | -0.34 | 0.28 |
Relative strength over 90 days: SPCXB outperformed ASMCI by 24.2% — measured on the ASMCI/SPCXB ratio, so it holds regardless of market direction.