Zscaler • Robinhood Token vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 62450.3× the size of Zscaler • Robinhood Token (ZS) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.01 across 27 shared trading days). ZS has been the more volatile of the two, at 272% annualised against SPCXB's 71%.

Correlation: -0.01
Size ratio: 1 : 62450.3

Zscaler • Robinhood TokenZS

$223.8100

24h: +0.44%
Market cap: $3,136
Volume 24h: $23
Volatility (ann.): 272%

SpaceX (bStocks Tokenized Stock)SPCXB

$123.4800

24h: -8.86%
Market cap: $195.83M
Volume 24h: $54.37M
Volatility (ann.): 71%

ZS 0.0%Share of the two combined market caps100.0% SPCXB

Performance

ZSSPCXB

7 days-10.01%-6.33%SPCXB
30 days+10.34%-21.79%ZS
90 days—+17.70%—

Correlation

-0.01over 27 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	ZS	SPCXB
Max drawdown (400d)	-37.6%	-47.5%
Risk-adjusted return (90d)	0.04	0.28

Relative strength over 90 days: ZS outperformed SPCXB by 30.3% — measured on the ZS/SPCXB ratio, so it holds regardless of market direction.

Zscaler • Robinhood Token →SpaceX (bStocks Tokenized Stock) →