Novo Nordisk xStock vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 294.4× the size of Novo Nordisk xStock (NVOX) by market capitalisation. Over the past 30 days, STRCX is ahead by 35.1 percentage points (NVOX -32.1% against STRCX +3.0%). Their daily returns move barely together (correlation 0.13 across 22 shared trading days). NVOX has been the more volatile of the two, at 117% annualised against STRCX's 51%.

Correlation: 0.13
Size ratio: 1 : 294.4
Ahead over 30 days: STRCX

Novo Nordisk xStockNVOX

$40.1000

24h: -1.20%
Market cap: $501,794
Volume 24h: $356
Volatility (ann.): 117%

Strategy PP Variable xStockSTRCX

$109.6900

24h: +0.37%
Market cap: $147.71M
Volume 24h: $591,033
Volatility (ann.): 51%

NVOX 0.3%Share of the two combined market caps99.7% STRCX

Performance

NVOXSTRCX

7 days+5.15%+5.41%STRCX
30 days-32.10%+3.05%STRCX

Correlation

0.13over 22 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	NVOX	STRCX
Max drawdown (400d)	-36.9%	-7.5%
Risk-adjusted return (90d)	-0.14	0.16

Relative strength over 90 days: STRCX outperformed NVOX by 19.5% — measured on the NVOX/STRCX ratio, so it holds regardless of market direction.

Novo Nordisk xStock →Strategy PP Variable xStock →