Astera Labs (bStocks Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 184.4× the size of Astera Labs (bStocks Tokenized Stock) (ALABB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.21 across 57 shared trading days). ALABB has been the more volatile of the two, at 80% annualised against STRCX's 51%.

Correlation: -0.21
Size ratio: 1 : 184.4

Astera Labs (bStocks Tokenized Stock)ALABB

$212.2400

24h: -0.67%
Market cap: $801,170
Volume 24h: $118,282
Volatility (ann.): 80%

Strategy PP Variable xStockSTRCX

$109.7000

24h: +3.33%
Market cap: $147.72M
Volume 24h: $578,103
Volatility (ann.): 51%

ALABB 0.5%Share of the two combined market caps99.5% STRCX

Performance

ALABBSTRCX

7 days-20.54%+5.41%STRCX
30 days-35.33%+3.05%STRCX
90 days-27.96%——

Correlation

-0.21over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2990d: 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	ALABB	STRCX
Max drawdown (400d)	-41.4%	-7.5%
Risk-adjusted return (90d)	-0.35	0.16

Relative strength over 90 days: STRCX outperformed ALABB by 34.0% — measured on the ALABB/STRCX ratio, so it holds regardless of market direction.

Astera Labs (bStocks Tokenized Stock) →Strategy PP Variable xStock →