SK Hynix xStock vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 14.5× the size of SK Hynix xStock (SKHYX) by market capitalisation. Over the past 30 days, STRCX is ahead by 16.8 percentage points (SKHYX -13.7% against STRCX +3.0%). Their daily returns move barely together (correlation 0.14 across 30 shared trading days). SKHYX has been the more volatile of the two, at 92% annualised against STRCX's 51%.

Correlation: 0.14
Size ratio: 1 : 14.5
Ahead over 30 days: STRCX

SK Hynix xStockSKHYX

$145.4200

24h: -2.09%
Market cap: $10.14M
Volume 24h: $185,937
Volatility (ann.): 92%

Strategy PP Variable xStockSTRCX

$109.4400

24h: +0.45%
Market cap: $147.36M
Volume 24h: $592,243
Volatility (ann.): 51%

SKHYX 6.4%Share of the two combined market caps93.6% STRCX

Performance

SKHYXSTRCX

7 days-18.02%+5.41%STRCX
30 days-13.70%+3.05%STRCX

Correlation

0.14over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 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	SKHYX	STRCX
Max drawdown (400d)	-25.7%	-7.5%
Risk-adjusted return (90d)	-0.08	0.16

Relative strength over 90 days: STRCX outperformed SKHYX by 11.1% — measured on the SKHYX/STRCX ratio, so it holds regardless of market direction.

SK Hynix xStock →Strategy PP Variable xStock →