Cerebras (bStocks Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 52.5× the size of Cerebras (bStocks Tokenized Stock) (CBRSB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.14 across 57 shared trading days). CBRSB has been the more volatile of the two, at 101% annualised against STRCX's 51%.

Correlation: -0.14
Size ratio: 1 : 52.5

Cerebras (bStocks Tokenized Stock)CBRSB

$97.8500

24h: -0.56%
Market cap: $2.81M
Volume 24h: $1.67M
Volatility (ann.): 101%

Strategy PP Variable xStockSTRCX

$109.3800

24h: +0.44%
Market cap: $147.25M
Volume 24h: $595,436
Volatility (ann.): 51%

CBRSB 1.9%Share of the two combined market caps98.1% STRCX

Performance

CBRSBSTRCX

7 days-17.13%+5.41%STRCX
30 days-45.75%+3.05%STRCX
90 days-53.92%——

Correlation

-0.14over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2490d: 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	CBRSB	STRCX
Max drawdown (400d)	-61.7%	-7.5%
Risk-adjusted return (90d)	-0.62	0.16

Relative strength over 90 days: STRCX outperformed CBRSB by 63.9% — measured on the CBRSB/STRCX ratio, so it holds regardless of market direction.

Cerebras (bStocks Tokenized Stock) →Strategy PP Variable xStock →