Alibaba • Robinhood Token vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 94.9× the size of Alibaba • Robinhood Token (BABA) by market capitalisation. Over the past 30 days, STRCX is ahead by 12.1 percentage points (BABA -9.1% against STRCX +3.0%). Their daily returns move barely in opposite directions (correlation -0.17 across 26 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against BABA's 37%.

Correlation: -0.17
Size ratio: 1 : 94.9
Ahead over 30 days: STRCX

Alibaba • Robinhood TokenBABA

$99.6600

24h: -3.54%
Market cap: $1.55M
Volume 24h: $468,931
Volatility (ann.): 37%

Strategy PP Variable xStockSTRCX

$109.3800

24h: +0.44%
Market cap: $147.25M
Volume 24h: $595,436
Volatility (ann.): 51%

BABA 1.0%Share of the two combined market caps99.0% STRCX

Performance

BABASTRCX

7 days-5.45%+5.41%STRCX
30 days-9.05%+3.05%STRCX

Correlation

-0.17over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1790d: 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	BABA	STRCX
Max drawdown (400d)	-16.0%	-7.5%
Risk-adjusted return (90d)	-0.26	0.16

Relative strength over 90 days: STRCX outperformed BABA by 14.6% — measured on the BABA/STRCX ratio, so it holds regardless of market direction.

Alibaba • Robinhood Token →Strategy PP Variable xStock →