Applied Materials (bStocks Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 61.9× the size of Applied Materials (bStocks Tokenized Stock) (AMATB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.13 across 57 shared trading days). Both have run at a similar volatility, around 54% annualised.

Correlation: -0.13
Size ratio: 1 : 61.9

Applied Materials (bStocks Tokenized Stock)AMATB

$373.7600

24h: -0.45%
Market cap: $2.38M
Volume 24h: $123,962
Volatility (ann.): 58%

Strategy PP Variable xStockSTRCX

$109.4400

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

AMATB 1.6%Share of the two combined market caps98.4% STRCX

Performance

AMATBSTRCX

7 days-3.87%+5.41%STRCX
30 days-29.37%+3.05%STRCX
90 days-28.33%——

Correlation

-0.13over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1990d: 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	AMATB	STRCX
Max drawdown (400d)	-32.0%	-7.5%
Risk-adjusted return (90d)	-0.57	0.16

Relative strength over 90 days: STRCX outperformed AMATB by 33.4% — measured on the AMATB/STRCX ratio, so it holds regardless of market direction.

Applied Materials (bStocks Tokenized Stock) →Strategy PP Variable xStock →