Strategy PP Variable xStock (STRCX) is 15.2× the size of Robinhood xStock (HOODX) by market capitalisation. Their daily returns move barely together (correlation 0.03 across 43 shared trading days). HOODX has been the more volatile of the two, at 77% annualised against STRCX's 51%.
$109.3800
HOODXSTRCX
0.03over 43 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 | HOODX | STRCX |
|---|---|---|
| Max drawdown (400d) | -57.6% | -7.5% |
| Risk-adjusted return (90d) | -0.32 | 0.16 |
| Best 30 days (past year) | +46.2% | — |
| Worst 30 days (past year) | -42.4% | — |
Relative strength over 90 days: STRCX outperformed HOODX by 18.7% — measured on the HOODX/STRCX ratio, so it holds regardless of market direction.