Strategy PP Variable xStock (STRCX) is 14.0× the size of Meta xStock (METAX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.33 across 35 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against METAX's 40%.
$109.4200
METAXSTRCX
-0.33over 35 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 | METAX | STRCX |
|---|---|---|
| Max drawdown (400d) | -30.8% | -7.5% |
| Risk-adjusted return (90d) | 0.41 | 0.16 |
Relative strength over 90 days: METAX outperformed STRCX by 21.1% — measured on the METAX/STRCX ratio, so it holds regardless of market direction.