Mastercard xStock vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 659.1× the size of Mastercard xStock (MAX) by market capitalisation. Over the past 30 days, STRCX is ahead by 9.1 percentage points (MAX -5.4% against STRCX +3.6%). Their daily returns move barely in opposite directions (correlation -0.04 across 20 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against MAX's 24%.

Correlation: -0.04
Size ratio: 1 : 659.1
Ahead over 30 days: STRCX

Mastercard xStockMAX

$670.7600

24h: +4.00%
Market cap: $215,327
Volume 24h: $25,302
Volatility (ann.): 24%

Strategy PP Variable xStockSTRCX

$109.5100

24h: +0.21%
Market cap: $141.92M
Volume 24h: $435,646
Volatility (ann.): 51%

MAX 0.2%Share of the two combined market caps99.8% STRCX

Performance

MAXSTRCX

7 days-2.90%+0.05%STRCX
30 days-5.43%+3.64%STRCX

Correlation

-0.04over 20 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	MAX	STRCX
Max drawdown (400d)	-6.7%	-7.5%
Risk-adjusted return (90d)	-0.23	0.16

Relative strength over 90 days: STRCX outperformed MAX by 6.7% — measured on the MAX/STRCX ratio, so it holds regardless of market direction.

Mastercard xStock →Strategy PP Variable xStock →