Strategy PP Variable xStock (STRCX) is 663.6× the size of Comcast xStock (CMCSAX) by market capitalisation. Their daily returns move barely together (correlation 0.15 across 37 shared trading days). Both have run at a similar volatility, around 49% annualised.
$109.5100
CMCSAXSTRCX
0.15over 37 shared trading days
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.
| Metric | CMCSAX | STRCX |
|---|---|---|
| Max drawdown (400d) | -40.5% | -7.5% |
| Risk-adjusted return (90d) | -0.19 | 0.16 |
Relative strength over 90 days: STRCX outperformed CMCSAX by 22.9% — measured on the CMCSAX/STRCX ratio, so it holds regardless of market direction.