Shopify • Robinhood Token vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 1969.7× the size of Shopify • Robinhood Token (SHOP) by market capitalisation. Over the past 30 days, SHOP is ahead by 1.3 percentage points (SHOP +4.9% against STRCX +3.6%). Their daily returns move barely together (correlation 0.02 across 25 shared trading days). SHOP has been the more volatile of the two, at 74% annualised against STRCX's 51%.

Correlation: 0.02
Size ratio: 1 : 1969.7
Ahead over 30 days: SHOP

Shopify • Robinhood TokenSHOP

$151.7500

24h: +10.97%
Market cap: $71,979
Volume 24h: $7,353
Volatility (ann.): 74%

Strategy PP Variable xStockSTRCX

$109.3900

24h: +0.06%
Market cap: $141.78M
Volume 24h: $406,697
Volatility (ann.): 51%

SHOP 0.1%Share of the two combined market caps99.9% STRCX

Performance

SHOPSTRCX

7 days+6.50%+0.05%SHOP
30 days+4.91%+3.64%SHOP

Correlation

0.02over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0290d: 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	SHOP	STRCX
Max drawdown (400d)	-16.1%	-7.5%
Risk-adjusted return (90d)	0.08	0.16

Relative strength over 90 days: SHOP outperformed STRCX by 0.2% — measured on the SHOP/STRCX ratio, so it holds regardless of market direction.

Shopify • Robinhood Token →Strategy PP Variable xStock →