SanDisk (Coinbase Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 87.8× the size of SanDisk (Coinbase Tokenized Stock) (SNDKC) by market capitalisation. Over the past 30 days, STRCX is ahead by 43.1 percentage points (SNDKC -39.5% against STRCX +3.6%). Their daily returns move barely together (correlation 0.25 across 23 shared trading days). SNDKC has been the more volatile of the two, at 90% annualised against STRCX's 51%.

Correlation: 0.25
Size ratio: 1 : 87.8
Ahead over 30 days: STRCX

SanDisk (Coinbase Tokenized Stock)SNDKC

$1,092.1

24h: -0.27%
Market cap: $1.62M
Volume 24h: $22.88M
Volatility (ann.): 90%

Strategy PP Variable xStockSTRCX

$109.6900

24h: +0.29%
Market cap: $142.13M
Volume 24h: $500,534
Volatility (ann.): 51%

SNDKC 1.1%Share of the two combined market caps98.9% STRCX

Performance

SNDKCSTRCX

7 days-24.54%+0.05%STRCX
30 days-39.46%+3.64%STRCX

Correlation

0.25over 23 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	SNDKC	STRCX
Max drawdown (400d)	-41.6%	-7.5%
Risk-adjusted return (90d)	-0.46	0.16

Relative strength over 90 days: STRCX outperformed SNDKC by 30.2% — measured on the SNDKC/STRCX ratio, so it holds regardless of market direction.

SanDisk (Coinbase Tokenized Stock) →Strategy PP Variable xStock →