ProShares UltraPro QQQ (bStocks Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 79.7× the size of ProShares UltraPro QQQ (bStocks Tokenized Stock) (TQQQB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.12 across 57 shared trading days). TQQQB has been the more volatile of the two, at 59% annualised against STRCX's 51%.

Correlation: -0.12
Size ratio: 1 : 79.7

ProShares UltraPro QQQ (bStocks Tokenized Stock)TQQQB

$61.2900

24h: -0.64%
Market cap: $1.85M
Volume 24h: $623,706
Volatility (ann.): 59%

Strategy PP Variable xStockSTRCX

$109.4400

24h: +0.45%
Market cap: $147.36M
Volume 24h: $592,243
Volatility (ann.): 51%

TQQQB 1.2%Share of the two combined market caps98.8% STRCX

Performance

TQQQBSTRCX

7 days-14.88%+5.41%STRCX
30 days-25.62%+3.05%STRCX
90 days-16.44%——

Correlation

-0.12over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2290d: 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	TQQQB	STRCX
Max drawdown (400d)	-28.8%	-7.5%
Risk-adjusted return (90d)	-0.32	0.16

Relative strength over 90 days: STRCX outperformed TQQQB by 26.4% — measured on the TQQQB/STRCX ratio, so it holds regardless of market direction.

ProShares UltraPro QQQ (bStocks Tokenized Stock) →Strategy PP Variable xStock →