Strategy PP Variable xStock (STRCX) is 3.0× the size of NVIDIA (bStocks Tokenized Stock) (NVDAB) by market capitalisation. Their daily returns move barely together (correlation 0.12 across 57 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against NVDAB's 35%.
$209.7400
$109.3100
NVDABSTRCX
0.12over 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 | NVDAB | STRCX |
|---|---|---|
| Max drawdown (400d) | -15.1% | -7.5% |
| Risk-adjusted return (90d) | -0.18 | 0.16 |
Relative strength over 90 days: STRCX outperformed NVDAB by 14.5% — measured on the NVDAB/STRCX ratio, so it holds regardless of market direction.