SpaceX (bStocks Tokenized Stock) (SPCXB) is 640.5× the size of Walmart xStock (WMTX) by market capitalisation. Their daily returns move closely in opposite directions (correlation -0.76 across 33 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against WMTX's 62%.
$123.8300
WMTXSPCXB
-0.76over 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 | WMTX | SPCXB |
|---|---|---|
| Max drawdown (400d) | -6.2% | -47.5% |
| Risk-adjusted return (90d) | 0.24 | 0.28 |
Relative strength over 90 days: WMTX outperformed SPCXB by 27.8% — measured on the WMTX/SPCXB ratio, so it holds regardless of market direction.