SK Hynix (Backpack Securities) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 43.7× the size of SK Hynix (Backpack Securities) (SKHY) by market capitalisation. Over the past 30 days, STRCX is ahead by 18.2 percentage points (SKHY -15.2% against STRCX +3.0%). Their daily returns move barely together (correlation 0.09 across 28 shared trading days). SKHY has been the more volatile of the two, at 102% annualised against STRCX's 51%.

Correlation: 0.09
Size ratio: 1 : 43.7
Ahead over 30 days: STRCX

SK Hynix (Backpack Securities)SKHY

$145.4400

24h: -3.07%
Market cap: $3.37M
Volume 24h: $2.99M
Volatility (ann.): 102%

Strategy PP Variable xStockSTRCX

$109.3300

24h: +0.18%
Market cap: $147.22M
Volume 24h: $596,482
Volatility (ann.): 51%

SKHY 2.2%Share of the two combined market caps97.8% STRCX

Performance

SKHYSTRCX

7 days-17.99%+5.41%STRCX
30 days-15.17%+3.05%STRCX

Correlation

0.09over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0990d: 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	SKHY	STRCX
Max drawdown (400d)	-27.6%	-7.5%
Risk-adjusted return (90d)	-0.08	0.16

Relative strength over 90 days: STRCX outperformed SKHY by 10.8% — measured on the SKHY/STRCX ratio, so it holds regardless of market direction.

SK Hynix (Backpack Securities) →Strategy PP Variable xStock →