Amazon (Coinbase Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 49.9× the size of Amazon (Coinbase Tokenized Stock) (AMZNC) by market capitalisation. Over the past 30 days, STRCX is ahead by 3.6 percentage points (AMZNC -0.6% against STRCX +3.0%). Their daily returns move barely together (correlation 0.22 across 22 shared trading days). Both have run at a similar volatility, around 48% annualised.

Correlation: 0.22
Size ratio: 1 : 49.9
Ahead over 30 days: STRCX

Amazon (Coinbase Tokenized Stock)AMZNC

$246.7300

24h: +0.27%
Market cap: $2.84M
Volume 24h: $8.72M
Volatility (ann.): 45%

Strategy PP Variable xStockSTRCX

$109.5900

24h: +2.51%
Market cap: $141.99M
Volume 24h: $541,391
Volatility (ann.): 51%

AMZNC 2.0%Share of the two combined market caps98.0% STRCX

Performance

AMZNCSTRCX

7 days-0.95%+5.41%STRCX
30 days-0.56%+3.05%STRCX

Correlation

0.22over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	AMZNC	STRCX
Max drawdown (400d)	-12.4%	-7.5%
Risk-adjusted return (90d)	0.01	0.16

Relative strength over 90 days: STRCX outperformed AMZNC by 4.5% — measured on the AMZNC/STRCX ratio, so it holds regardless of market direction.

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