Western Digital Tokenized Stock (Reality) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 424.7× the size of Western Digital Tokenized Stock (Reality) (RWDC) by market capitalisation. Their daily returns move barely together (correlation 0.01 across 25 shared trading days). Both have run at a similar volatility, around 69% annualised.

Correlation: 0.01
Size ratio: 1 : 424.7

Western Digital Tokenized Stock (Reality)RWDC

$314.4700

24h: -7.13%
Market cap: $430,420
Volume 24h: $56,352
Volatility (ann.): 67%

SpaceX (bStocks Tokenized Stock)SPCXB

$123.4200

24h: -10.39%
Market cap: $182.78M
Volume 24h: $46.58M
Volatility (ann.): 71%

RWDC 0.2%Share of the two combined market caps99.8% SPCXB

Performance

RWDCSPCXB

7 days-5.06%-6.33%RWDC
30 days-4.49%-21.79%RWDC
90 days—+17.70%—

Correlation

0.01over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0190d: 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	RWDC	SPCXB
Max drawdown (400d)	-17.0%	-47.5%
Risk-adjusted return (90d)	-0.07	0.28

Relative strength over 90 days: SPCXB outperformed RWDC by 16.2% — measured on the RWDC/SPCXB ratio, so it holds regardless of market direction.

Western Digital Tokenized Stock (Reality) →SpaceX (bStocks Tokenized Stock) →