RoboStrategy (Backpack Securities) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 129.2× the size of RoboStrategy (Backpack Securities) (BOT) by market capitalisation. Over the past 30 days, STRCX is ahead by 15.9 percentage points (BOT -12.9% against STRCX +3.0%). Their daily returns move barely in opposite directions (correlation -0.11 across 29 shared trading days). BOT has been the more volatile of the two, at 75% annualised against STRCX's 51%.

Correlation: -0.11
Size ratio: 1 : 129.2
Ahead over 30 days: STRCX

RoboStrategy (Backpack Securities)BOT

$23.5000

24h: +9.59%
Market cap: $1.14M
Volume 24h: $167,603
Volatility (ann.): 75%

Strategy PP Variable xStockSTRCX

$109.3800

24h: +0.44%
Market cap: $147.25M
Volume 24h: $595,436
Volatility (ann.): 51%

BOT 0.8%Share of the two combined market caps99.2% STRCX

Performance

BOTSTRCX

7 days-2.39%+5.41%STRCX
30 days-12.86%+3.05%STRCX

Correlation

-0.11over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1190d: 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	BOT	STRCX
Max drawdown (400d)	-31.0%	-7.5%
Risk-adjusted return (90d)	-0.13	0.16

Relative strength over 90 days: STRCX outperformed BOT by 14.2% — measured on the BOT/STRCX ratio, so it holds regardless of market direction.

RoboStrategy (Backpack Securities) →Strategy PP Variable xStock →