Strategy PP Variable xStock (STRCX) is 56.5× the size of McDonald's xStock (MCDX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.08 across 45 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against MCDX's 25%.
$109.0500
MCDXSTRCX
-0.08over 45 shared trading days
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.
| Metric | MCDX | STRCX |
|---|---|---|
| Max drawdown (400d) | -31.6% | -7.5% |
| Risk-adjusted return (90d) | 0.06 | 0.16 |
| Best 30 days (past year) | +12.1% | — |
| Worst 30 days (past year) | -11.0% | — |
Relative strength over 90 days: STRCX outperformed MCDX by 3.0% — measured on the MCDX/STRCX ratio, so it holds regardless of market direction.