Webull Corporation • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 1443.2× the size of Webull Corporation • Robinhood Token (BULL) by market capitalisation. Their daily returns move barely together (correlation 0.27 across 39 shared trading days). BULL has been the more volatile of the two, at 101% annualised against SPCXB's 71%.

Correlation: 0.27
Size ratio: 1 : 1443.2

Webull Corporation • Robinhood TokenBULL

$5.4000

24h: +4.97%
Market cap: $136,068
Volume 24h: $8,547
Volatility (ann.): 101%

SpaceX (bStocks Tokenized Stock)SPCXB

$133.1500

24h: -1.33%
Market cap: $196.38M
Volume 24h: $57.23M
Volatility (ann.): 71%

BULL 0.1%Share of the two combined market caps99.9% SPCXB

Performance

BULLSPCXB

7 days-4.72%-6.33%BULL
30 days-44.50%-21.79%SPCXB
90 days—+17.70%—

Correlation

0.27over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0990d: 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	BULL	SPCXB
Max drawdown (400d)	-51.9%	-47.5%
Risk-adjusted return (90d)	-0.42	0.28

Relative strength over 90 days: SPCXB outperformed BULL by 39.2% — measured on the BULL/SPCXB ratio, so it holds regardless of market direction.

Webull Corporation • Robinhood Token →SpaceX (bStocks Tokenized Stock) →