Alphabet (Coinbase Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 16.3× the size of Alphabet (Coinbase Tokenized Stock) (GOOGLC) by market capitalisation. Over the past 30 days, STRCX is ahead by 20.5 percentage points (GOOGLC -17.4% against STRCX +3.0%). Their daily returns move barely in opposite directions (correlation -0.04 across 31 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against GOOGLC's 42%.

Correlation: -0.04
Size ratio: 1 : 16.3
Ahead over 30 days: STRCX

Alphabet (Coinbase Tokenized Stock)GOOGLC

$276.0900

24h: -1.58%
Market cap: $9.05M
Volume 24h: $9.27M
Volatility (ann.): 42%

Strategy PP Variable xStockSTRCX

$109.4400

24h: +0.45%
Market cap: $147.36M
Volume 24h: $592,243
Volatility (ann.): 51%

GOOGLC 5.8%Share of the two combined market caps94.2% STRCX

Performance

GOOGLCSTRCX

7 days-13.06%+5.41%STRCX
30 days-17.41%+3.05%STRCX

Correlation

-0.04over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0490d: 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	GOOGLC	STRCX
Max drawdown (400d)	-21.4%	-7.5%
Risk-adjusted return (90d)	-0.46	0.16

Relative strength over 90 days: STRCX outperformed GOOGLC by 21.8% — measured on the GOOGLC/STRCX ratio, so it holds regardless of market direction.

Alphabet (Coinbase Tokenized Stock) →Strategy PP Variable xStock →