IREN Limited • Robinhood Token vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 723.4× the size of IREN Limited • Robinhood Token (IREN) by market capitalisation. Over the past 30 days, STRCX is ahead by 58.2 percentage points (IREN -55.4% against STRCX +2.8%). Their daily returns move barely together (correlation 0.18 across 24 shared trading days). IREN has been the more volatile of the two, at 109% annualised against STRCX's 50%.

Correlation: 0.18
Size ratio: 1 : 723.4
Ahead over 30 days: STRCX

IREN Limited • Robinhood TokenIREN

$20.5200

24h: -3.65%
Market cap: $187,049
Volume 24h: $76,755
Volatility (ann.): 109%

Strategy PP Variable xStockSTRCX

$109.2600

24h: -0.10%
Market cap: $135.30M
Volume 24h: $2.55M
Volatility (ann.): 50%

IREN 0.1%Share of the two combined market caps99.9% STRCX

Performance

IRENSTRCX

7 days-27.10%-0.16%STRCX
30 days-55.39%+2.84%STRCX

Correlation

0.18over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	IREN	STRCX
Max drawdown (400d)	-55.6%	-7.5%
Risk-adjusted return (90d)	-0.50	0.15

Relative strength over 90 days: STRCX outperformed IREN by 46.3% — measured on the IREN/STRCX ratio, so it holds regardless of market direction.

IREN Limited • Robinhood Token →Strategy PP Variable xStock →