SpaceX xStock vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 1.8× the size of SpaceX xStock (SPCXX) by market capitalisation. Over the past 30 days, STRCX is ahead by 8.2 percentage points (SPCXX -5.1% against STRCX +3.0%). Their daily returns move barely together (correlation 0.06 across 49 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against SPCXX's 44%.

Correlation: 0.06
Size ratio: 1 : 1.8
Ahead over 30 days: STRCX

SpaceX xStockSPCXX

$135.9300

24h: -3.73%
Market cap: $78.43M
Volume 24h: $13.37M
Volatility (ann.): 44%

Strategy PP Variable xStockSTRCX

$109.5800

24h: +2.74%
Market cap: $142.00M
Volume 24h: $556,050
Volatility (ann.): 51%

SPCXX 35.6%Share of the two combined market caps64.4% STRCX

Performance

SPCXXSTRCX

7 days-4.45%+5.41%STRCX
30 days-5.11%+3.05%STRCX

Correlation

0.06over 49 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	SPCXX	STRCX
Max drawdown (400d)	-13.5%	-7.5%
Risk-adjusted return (90d)	0.09	0.16

Relative strength over 90 days: STRCX outperformed SPCXX by 1.9% — measured on the SPCXX/STRCX ratio, so it holds regardless of market direction.

SpaceX xStock →Strategy PP Variable xStock →