SpaceX (bStocks Tokenized Stock) (SPCXB) is 16293.4× the size of Walmart aStock (AWMT) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.52 across 31 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against AWMT's 22%.
$122.1200
AWMTSPCXB
-0.52over 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 | AWMT | SPCXB |
|---|---|---|
| Max drawdown (400d) | -4.3% | -47.5% |
| Risk-adjusted return (90d) | 0.52 | 0.28 |
Relative strength over 90 days: AWMT outperformed SPCXB by 11.3% — measured on the AWMT/SPCXB ratio, so it holds regardless of market direction.