Cloudflare, Inc. • Robinhood Token vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 1006.6× the size of Cloudflare, Inc. • Robinhood Token (NET) by market capitalisation. Over the past 30 days, STRCX is ahead by 18.9 percentage points (NET -15.3% against STRCX +3.6%). Their daily returns move barely in opposite directions (correlation -0.06 across 28 shared trading days). NET has been the more volatile of the two, at 74% annualised against STRCX's 51%.

Correlation: -0.06
Size ratio: 1 : 1006.6
Ahead over 30 days: STRCX

Cloudflare, Inc. • Robinhood TokenNET

$263.3500

24h: -1.54%
Market cap: $140,394
Volume 24h: $86,542
Volatility (ann.): 74%

Strategy PP Variable xStockSTRCX

$109.0500

24h: -0.49%
Market cap: $141.32M
Volume 24h: $604,227
Volatility (ann.): 51%

NET 0.1%Share of the two combined market caps99.9% STRCX

Performance

NETSTRCX

7 days-14.53%+0.05%STRCX
30 days-15.29%+3.64%STRCX

Correlation

-0.06over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0690d: 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	NET	STRCX
Max drawdown (400d)	-26.1%	-7.5%
Risk-adjusted return (90d)	-0.09	0.16

Relative strength over 90 days: STRCX outperformed NET by 12.5% — measured on the NET/STRCX ratio, so it holds regardless of market direction.

Cloudflare, Inc. • Robinhood Token →Strategy PP Variable xStock →