Bitmine xStock vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 34.4× the size of Bitmine xStock (BMNRX) by market capitalisation. Over the past 30 days, STRCX is ahead by 34.6 percentage points (BMNRX -31.5% against STRCX +3.0%). Their daily returns move barely together (correlation 0.03 across 28 shared trading days). BMNRX has been the more volatile of the two, at 184% annualised against STRCX's 51%.

Correlation: 0.03
Size ratio: 1 : 34.4
Ahead over 30 days: STRCX

Bitmine xStockBMNRX

$20.5600

24h: +4.42%
Market cap: $4.28M
Volume 24h: $368
Volatility (ann.): 184%

Strategy PP Variable xStockSTRCX

$109.4200

24h: +0.39%
Market cap: $147.34M
Volume 24h: $624,560
Volatility (ann.): 51%

BMNRX 2.8%Share of the two combined market caps97.2% STRCX

Performance

BMNRXSTRCX

7 days-27.18%+5.41%STRCX
30 days-31.51%+3.05%STRCX

Correlation

0.03over 28 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	BMNRX	STRCX
Max drawdown (400d)	-35.0%	-7.5%
Risk-adjusted return (90d)	-0.15	0.16

Relative strength over 90 days: STRCX outperformed BMNRX by 26.5% — measured on the BMNRX/STRCX ratio, so it holds regardless of market direction.

Bitmine xStock →Strategy PP Variable xStock →