MicroStrategy (Coinbase Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 72.7× the size of MicroStrategy (Coinbase Tokenized Stock) (MSTRC) by market capitalisation. Over the past 30 days, STRCX is ahead by 14.0 percentage points (MSTRC -10.4% against STRCX +3.6%). Their daily returns move barely together (correlation 0.27 across 23 shared trading days). MSTRC has been the more volatile of the two, at 66% annualised against STRCX's 51%.

Correlation: 0.27
Size ratio: 1 : 72.7
Ahead over 30 days: STRCX

MicroStrategy (Coinbase Tokenized Stock)MSTRC

$132.2800

24h: +0.41%
Market cap: $1.95M
Volume 24h: $19.82M
Volatility (ann.): 66%

Strategy PP Variable xStockSTRCX

$109.6200

24h: +0.14%
Market cap: $142.04M
Volume 24h: $502,580
Volatility (ann.): 51%

MSTRC 1.4%Share of the two combined market caps98.6% STRCX

Performance

MSTRCSTRCX

7 days+1.18%+0.05%MSTRC
30 days-10.36%+3.64%STRCX

Correlation

0.27over 23 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	MSTRC	STRCX
Max drawdown (400d)	-22.7%	-7.5%
Risk-adjusted return (90d)	-0.12	0.16

Relative strength over 90 days: STRCX outperformed MSTRC by 5.6% — measured on the MSTRC/STRCX ratio, so it holds regardless of market direction.

MicroStrategy (Coinbase Tokenized Stock) →Strategy PP Variable xStock →