Coinbase Global Inc ST0x vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 459.7× the size of Coinbase Global Inc ST0x (WTCOIN) by market capitalisation. Over the past 30 days, STRCX is ahead by 17.4 percentage points (WTCOIN -13.8% against STRCX +3.6%). Their daily returns move barely in opposite directions (correlation -0.24 across 28 shared trading days). WTCOIN has been the more volatile of the two, at 87% annualised against STRCX's 51%.

Correlation: -0.24
Size ratio: 1 : 459.7
Ahead over 30 days: STRCX

Coinbase Global Inc ST0xWTCOIN

$152.0100

24h: +6.63%
Market cap: $308,445
Volume 24h: $117,461
Volatility (ann.): 87%

Strategy PP Variable xStockSTRCX

$109.4400

24h: +0.05%
Market cap: $141.80M
Volume 24h: $426,508
Volatility (ann.): 51%

WTCOIN 0.2%Share of the two combined market caps99.8% STRCX

Performance

WTCOINSTRCX

7 days-5.46%+0.05%STRCX
30 days-13.79%+3.64%STRCX

Correlation

-0.24over 28 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	WTCOIN	STRCX
Max drawdown (400d)	-31.2%	-7.5%
Risk-adjusted return (90d)	-0.16	0.16

Relative strength over 90 days: STRCX outperformed WTCOIN by 19.5% — measured on the WTCOIN/STRCX ratio, so it holds regardless of market direction.

Coinbase Global Inc ST0x →Strategy PP Variable xStock →