SpaceX (bStocks Tokenized Stock) (SPCXB) is 15690.8× the size of Vistra Corp. • Robinhood Token (VST) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 33 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against VST's 61%.
$113.1700
$126.8600
VSTSPCXB
0.23over 33 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 | VST | SPCXB |
|---|---|---|
| Max drawdown (400d) | -25.8% | -47.5% |
| Risk-adjusted return (90d) | -0.24 | -0.15 |
Relative strength over 90 days: VST outperformed SPCXB by 10.5% — measured on the VST/SPCXB ratio, so it holds regardless of market direction.