Fluence Energy (bStocks Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 151.2× the size of Fluence Energy (bStocks Tokenized Stock) (FLNCB) by market capitalisation. Their daily returns move barely together (correlation 0.00 across 57 shared trading days). FLNCB has been the more volatile of the two, at 109% annualised against STRCX's 51%.

Correlation: 0.00
Size ratio: 1 : 151.2

Fluence Energy (bStocks Tokenized Stock)FLNCB

$6.2900

24h: -0.19%
Market cap: $974,478
Volume 24h: $128,425
Volatility (ann.): 109%

Strategy PP Variable xStockSTRCX

$109.4100

24h: +0.30%
Market cap: $147.32M
Volume 24h: $601,475
Volatility (ann.): 51%

FLNCB 0.7%Share of the two combined market caps99.3% STRCX

Performance

FLNCBSTRCX

7 days-9.05%+5.41%STRCX
30 days-27.24%+3.05%STRCX
90 days-48.94%——

Correlation

0.00over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1090d: 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	FLNCB	STRCX
Max drawdown (400d)	-66.8%	-7.5%
Risk-adjusted return (90d)	-0.57	0.16

Relative strength over 90 days: STRCX outperformed FLNCB by 59.7% — measured on the FLNCB/STRCX ratio, so it holds regardless of market direction.

Fluence Energy (bStocks Tokenized Stock) →Strategy PP Variable xStock →