SpaceX (bStocks Tokenized Stock) (SPCXB) is 5007.4× the size of Zoom • Robinhood Token (ZM) by market capitalisation. Their daily returns move barely together (correlation 0.09 across 33 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against ZM's 31%.
$123.1500
ZMSPCXB
0.09over 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 | ZM | SPCXB |
|---|---|---|
| Max drawdown (400d) | -7.6% | -47.5% |
| Risk-adjusted return (90d) | 0.03 | 0.28 |
Relative strength over 90 days: ZM outperformed SPCXB by 11.6% — measured on the ZM/SPCXB ratio, so it holds regardless of market direction.