Strategy PP Variable xStock (STRCX) is 704.2× the size of Accenture xStock (ACNX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.15 across 37 shared trading days). ACNX has been the more volatile of the two, at 69% annualised against STRCX's 51%.
$109.5100
ACNXSTRCX
-0.15over 37 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 | ACNX | STRCX |
|---|---|---|
| Max drawdown (400d) | -56.6% | -7.5% |
| Risk-adjusted return (90d) | 0.90 | 0.16 |
Relative strength over 90 days: ACNX outperformed STRCX by 38.2% — measured on the ACNX/STRCX ratio, so it holds regardless of market direction.