Nebius (bStocks Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 22.7× the size of Nebius (bStocks Tokenized Stock) (NBISB) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 57 shared trading days). NBISB has been the more volatile of the two, at 124% annualised against STRCX's 51%.

Correlation: 0.06
Size ratio: 1 : 22.7

Nebius (bStocks Tokenized Stock)NBISB

$142.1800

24h: -1.04%
Market cap: $6.47M
Volume 24h: $404,568
Volatility (ann.): 124%

Strategy PP Variable xStockSTRCX

$109.3300

24h: +0.47%
Market cap: $147.21M
Volume 24h: $594,635
Volatility (ann.): 51%

NBISB 4.2%Share of the two combined market caps95.8% STRCX

Performance

NBISBSTRCX

7 days-10.82%+5.41%STRCX
30 days-37.15%+3.05%STRCX
90 days-28.55%——

Correlation

0.06over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0090d: 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	NBISB	STRCX
Max drawdown (400d)	-48.6%	-7.5%
Risk-adjusted return (90d)	-0.28	0.16

Relative strength over 90 days: STRCX outperformed NBISB by 47.4% — measured on the NBISB/STRCX ratio, so it holds regardless of market direction.

Nebius (bStocks Tokenized Stock) →Strategy PP Variable xStock →