Strategy PP Variable xStock (STRCX) is 77.9× the size of Nokia (bStocks Tokenized Stock) (NOKB) by market capitalisation. Their daily returns move barely together (correlation 0.13 across 57 shared trading days). NOKB has been the more volatile of the two, at 72% annualised against STRCX's 51%.
$8.4600
$109.4400
NOKBSTRCX
0.13over 57 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 | NOKB | STRCX |
|---|---|---|
| Max drawdown (400d) | -29.4% | -7.5% |
| Risk-adjusted return (90d) | -0.16 | 0.16 |
Relative strength over 90 days: STRCX outperformed NOKB by 26.6% — measured on the NOKB/STRCX ratio, so it holds regardless of market direction.