Circle Internet Group Tokenized Stock (Reality) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 10.6× the size of Circle Internet Group Tokenized Stock (Reality) (RCRCL) by market capitalisation. Over the past 30 days, STRCX is ahead by 11.8 percentage points (RCRCL -8.8% against STRCX +3.0%). Their daily returns move barely together (correlation 0.33 across 22 shared trading days). Both have run at a similar volatility, around 54% annualised.

Correlation: 0.33
Size ratio: 1 : 10.6
Ahead over 30 days: STRCX

Circle Internet Group Tokenized Stock (Reality)RCRCL

$73.5900

24h: +2.07%
Market cap: $13.72M
Volume 24h: $1.76M
Volatility (ann.): 58%

Strategy PP Variable xStockSTRCX

$109.7500

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

RCRCL 8.6%Share of the two combined market caps91.4% STRCX

Performance

RCRCLSTRCX

7 days-7.23%+5.41%STRCX
30 days-8.79%+3.05%STRCX

Correlation

0.33over 22 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	RCRCL	STRCX
Max drawdown (400d)	-19.1%	-7.5%
Risk-adjusted return (90d)	-0.16	0.16

Relative strength over 90 days: STRCX outperformed RCRCL by 11.2% — measured on the RCRCL/STRCX ratio, so it holds regardless of market direction.

Circle Internet Group Tokenized Stock (Reality) →Strategy PP Variable xStock →