Strategy PP Variable xStock (STRCX) is 40.8× the size of ASML (bStocks Tokenized Stock) (ASMLB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.07 across 58 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against ASMLB's 37%.
$1,463.45
$109.6200
ASMLBSTRCX
-0.07over 58 shared trading days
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.
| Metric | ASMLB | STRCX |
|---|---|---|
| Max drawdown (400d) | -20.8% | -7.5% |
| Risk-adjusted return (90d) | -0.36 | 0.16 |
Relative strength over 90 days: STRCX outperformed ASMLB by 26.7% — measured on the ASMLB/STRCX ratio, so it holds regardless of market direction.