BitMine Immersion Technologies (bStocks Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 31.1× the size of BitMine Immersion Technologies (bStocks Tokenized Stock) (BMNRB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 57 shared trading days). BMNRB has been the more volatile of the two, at 82% annualised against STRCX's 51%.

Correlation: -0.04
Size ratio: 1 : 31.1

BitMine Immersion Technologies (bStocks Tokenized Stock)BMNRB

$20.7900

24h: +0.00%
Market cap: $4.73M
Volume 24h: $1.23M
Volatility (ann.): 82%

Strategy PP Variable xStockSTRCX

$109.2600

24h: +0.33%
Market cap: $147.13M
Volume 24h: $591,035
Volatility (ann.): 51%

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

Performance

BMNRBSTRCX

7 days-5.82%+5.41%STRCX
30 days-24.33%+3.05%STRCX
90 days+11.11%——

Correlation

-0.04over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1890d: 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	BMNRB	STRCX
Max drawdown (400d)	-31.9%	-7.5%
Risk-adjusted return (90d)	0.14	0.16

Relative strength over 90 days: BMNRB outperformed STRCX by 0.5% — measured on the BMNRB/STRCX ratio, so it holds regardless of market direction.

BitMine Immersion Technologies (bStocks Tokenized Stock) →Strategy PP Variable xStock →