Applied Digital • Robinhood Token vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 8019.3× the size of Applied Digital • Robinhood Token (APLD) by market capitalisation. Over the past 30 days, STRCX is ahead by 43.0 percentage points (APLD -39.3% against STRCX +3.6%). Their daily returns move barely together (correlation 0.18 across 22 shared trading days). APLD has been the more volatile of the two, at 100% annualised against STRCX's 51%.

Correlation: 0.18
Size ratio: 1 : 8019.3
Ahead over 30 days: STRCX

Applied Digital • Robinhood TokenAPLD

$16.7200

24h: —
Market cap: $16,877
Volume 24h: $30
Volatility (ann.): 100%

Strategy PP Variable xStockSTRCX

$109.1100

24h: -0.45%
Market cap: $135.34M
Volume 24h: $2.06M
Volatility (ann.): 51%

APLD 0.0%Share of the two combined market caps100.0% STRCX

Performance

APLDSTRCX

7 days-18.77%+0.05%STRCX
30 days-39.33%+3.64%STRCX

Correlation

0.18over 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	APLD	STRCX
Max drawdown (400d)	-39.3%	-7.5%
Risk-adjusted return (90d)	-0.36	0.16

Relative strength over 90 days: STRCX outperformed APLD by 28.6% — measured on the APLD/STRCX ratio, so it holds regardless of market direction.

Applied Digital • Robinhood Token →Strategy PP Variable xStock →