SpaceX (bStocks Tokenized Stock) (SPCXB) is 1518.6× the size of UPS • Robinhood Token (UPS) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.40 across 39 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against UPS's 52%.
$123.4200
UPSSPCXB
-0.40over 39 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 | UPS | SPCXB |
|---|---|---|
| Max drawdown (400d) | -13.4% | -47.5% |
| Risk-adjusted return (90d) | 0.13 | 0.28 |
Relative strength over 90 days: UPS outperformed SPCXB by 12.8% — measured on the UPS/SPCXB ratio, so it holds regardless of market direction.