Chevron xStock vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 173.0× the size of Chevron xStock (CVXX) by market capitalisation. Over the past 30 days, STRCX is ahead by 1.7 percentage points (CVXX +1.3% against STRCX +3.0%). Their daily returns move barely together (correlation 0.35 across 21 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against CVXX's 42%.

Correlation: 0.35
Size ratio: 1 : 173.0
Ahead over 30 days: STRCX

Chevron xStockCVXX

$225.8200

24h: -1.81%
Market cap: $840,586
Volume 24h: $2,025
Volatility (ann.): 42%

Strategy PP Variable xStockSTRCX

$109.7500

24h: +3.17%
Market cap: $145.46M
Volume 24h: $573,379
Volatility (ann.): 51%

CVXX 0.6%Share of the two combined market caps99.4% STRCX

Performance

CVXXSTRCX

7 days+0.31%+5.41%STRCX
30 days+1.33%+3.05%STRCX

Correlation

0.35over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	CVXX	STRCX
Max drawdown (400d)	-7.4%	-7.5%
Risk-adjusted return (90d)	0.03	0.16

Relative strength over 90 days: STRCX outperformed CVXX by 0.4% — measured on the CVXX/STRCX ratio, so it holds regardless of market direction.

Chevron xStock →Strategy PP Variable xStock →