Goldman Sachs (bStocks Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 223.2× the size of Goldman Sachs (bStocks Tokenized Stock) (GSB) by market capitalisation. Their daily returns move barely together (correlation 0.10 across 57 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against GSB's 25%.

Correlation: 0.10
Size ratio: 1 : 223.2

Goldman Sachs (bStocks Tokenized Stock)GSB

$917.9900

24h: +0.02%
Market cap: $651,616
Volume 24h: $44,293
Volatility (ann.): 25%

Strategy PP Variable xStockSTRCX

$109.7500

24h: +3.17%
Market cap: $145.46M
Volume 24h: $573,379
Volatility (ann.): 51%

GSB 0.4%Share of the two combined market caps99.6% STRCX

Performance

GSBSTRCX

7 days-1.88%+5.41%STRCX
30 days-1.06%+3.05%STRCX
90 days-16.10%——

Correlation

0.10over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 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	GSB	STRCX
Max drawdown (400d)	-17.9%	-7.5%
Risk-adjusted return (90d)	-0.68	0.16

Relative strength over 90 days: STRCX outperformed GSB by 21.1% — measured on the GSB/STRCX ratio, so it holds regardless of market direction.

Goldman Sachs (bStocks Tokenized Stock) →Strategy PP Variable xStock →