UnitedHealth Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 5081.3× the size of UnitedHealth Tokenized Stock (Reality) (RUNH) by market capitalisation. Their daily returns move barely together (correlation 0.28 across 26 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against RUNH's 19%.

Correlation: 0.28
Size ratio: 1 : 5081.3

UnitedHealth Tokenized Stock (Reality)RUNH

$412.2300

24h: +2.13%
Market cap: $38,540
Volume 24h: $3,536
Volatility (ann.): 19%

SpaceX (bStocks Tokenized Stock)SPCXB

$123.4800

24h: -8.86%
Market cap: $195.83M
Volume 24h: $54.37M
Volatility (ann.): 71%

RUNH 0.0%Share of the two combined market caps100.0% SPCXB

Performance

RUNHSPCXB

7 days+0.85%-6.33%RUNH
30 days+1.57%-21.79%RUNH
90 days—+17.70%—

Correlation

0.28over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2890d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	RUNH	SPCXB
Max drawdown (400d)	-3.4%	-47.5%
Risk-adjusted return (90d)	0.08	0.28

Relative strength over 90 days: SPCXB outperformed RUNH by 7.6% — measured on the RUNH/SPCXB ratio, so it holds regardless of market direction.

UnitedHealth Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →