SpaceX (bStocks Tokenized Stock) (SPCXB) is 17894.1× the size of Wendy's (ST0x Tokenized Stock) (WTWEN) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.47 across 33 shared trading days). Both have run at a similar volatility, around 76% annualised.
$7.9700
$129.7900
WTWENSPCXB
-0.47over 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 | WTWEN | SPCXB |
|---|---|---|
| Max drawdown (400d) | -9.3% | -47.5% |
| Risk-adjusted return (90d) | 0.35 | -0.15 |
Relative strength over 90 days: WTWEN outperformed SPCXB by 54.7% — measured on the WTWEN/SPCXB ratio, so it holds regardless of market direction.