Intel (Backpack Securities) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 318.7× the size of Intel (Backpack Securities) (INTC) by market capitalisation. Over the past 30 days, STRCX is ahead by 44.1 percentage points (INTC -41.0% against STRCX +3.0%). Their daily returns move loosely in opposite directions (correlation -0.36 across 27 shared trading days). INTC has been the more volatile of the two, at 123% annualised against STRCX's 51%.

Correlation: -0.36
Size ratio: 1 : 318.7
Ahead over 30 days: STRCX

Intel (Backpack Securities)INTC

$59.0700

24h: -3.79%
Market cap: $445,582
Volume 24h: $446,797
Volatility (ann.): 123%

Strategy PP Variable xStockSTRCX

$109.6300

24h: +2.54%
Market cap: $142.03M
Volume 24h: $538,698
Volatility (ann.): 51%

INTC 0.3%Share of the two combined market caps99.7% STRCX

Performance

INTCSTRCX

7 days-48.92%+5.41%STRCX
30 days-41.05%+3.05%STRCX

Correlation

-0.36over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3690d: 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	INTC	STRCX
Max drawdown (400d)	-53.0%	-7.5%
Risk-adjusted return (90d)	-0.25	0.16

Relative strength over 90 days: STRCX outperformed INTC by 35.1% — measured on the INTC/STRCX ratio, so it holds regardless of market direction.

Intel (Backpack Securities) →Strategy PP Variable xStock →