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

Strategy PP Variable xStock (STRCX) is 31.4× the size of Applied Optoelectronics (bStocks Tokenized Stock) (AAOIB) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 58 shared trading days). AAOIB has been the more volatile of the two, at 128% annualised against STRCX's 51%.

Correlation: 0.05
Size ratio: 1 : 31.4

Applied Optoelectronics (bStocks Tokenized Stock)AAOIB

$48.0400

24h: -0.98%
Market cap: $4.49M
Volume 24h: $1.65M
Volatility (ann.): 128%

Strategy PP Variable xStockSTRCX

$109.2200

24h: -0.46%
Market cap: $140.93M
Volume 24h: $2.05M
Volatility (ann.): 51%

AAOIB 3.1%Share of the two combined market caps96.9% STRCX

Performance

AAOIBSTRCX

7 days-26.52%+0.05%STRCX
30 days-51.06%+3.64%STRCX
90 days-51.98%——

Correlation

0.05over 58 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 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	AAOIB	STRCX
Max drawdown (400d)	-61.7%	-7.5%
Risk-adjusted return (90d)	-0.50	0.16

Relative strength over 90 days: STRCX outperformed AAOIB by 64.5% — measured on the AAOIB/STRCX ratio, so it holds regardless of market direction.

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