Strategy PP Variable xStock (STRCX) is 178.4× the size of Dell (bStocks Tokenized Stock) (DELLB) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 57 shared trading days). DELLB has been the more volatile of the two, at 72% annualised against STRCX's 51%.
$414.0700
$109.3800
DELLBSTRCX
0.05over 57 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 | DELLB | STRCX |
|---|---|---|
| Max drawdown (400d) | -33.0% | -7.5% |
| Risk-adjusted return (90d) | -0.15 | 0.16 |
Relative strength over 90 days: STRCX outperformed DELLB by 19.3% — measured on the DELLB/STRCX ratio, so it holds regardless of market direction.