Gamestop xStock vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 70.3× the size of Gamestop xStock (GMEX) by market capitalisation. Over the past 30 days, GMEX is ahead by 17.3 percentage points (GMEX +20.3% against STRCX +3.0%). Their daily returns move barely in opposite directions (correlation -0.17 across 28 shared trading days). Both have run at a similar volatility, around 49% annualised.

Correlation: -0.17
Size ratio: 1 : 70.3
Ahead over 30 days: GMEX

Gamestop xStockGMEX

$24.0600

24h: -0.51%
Market cap: $2.10M
Volume 24h: $859,068
Volatility (ann.): 48%

Strategy PP Variable xStockSTRCX

$109.7500

24h: +3.23%
Market cap: $147.82M
Volume 24h: $574,366
Volatility (ann.): 51%

GMEX 1.4%Share of the two combined market caps98.6% STRCX

Performance

GMEXSTRCX

7 days-0.25%+5.41%STRCX
30 days+20.31%+3.05%GMEX

Correlation

-0.17over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1790d: 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	GMEX	STRCX
Max drawdown (400d)	-6.7%	-7.5%
Risk-adjusted return (90d)	0.67	0.16

Relative strength over 90 days: GMEX outperformed STRCX by 26.4% — measured on the GMEX/STRCX ratio, so it holds regardless of market direction.

Gamestop xStock →Strategy PP Variable xStock →