Strategy PP Variable xStock vs Circle xStock

Strategy PP Variable xStock (STRCX) is 1.2× the size of Circle xStock (CRCLX) by market capitalisation. Over the past 30 days, STRCX is ahead by 19.5 percentage points (STRCX +3.6% against CRCLX -15.9%). Their daily returns move barely together (correlation 0.13 across 56 shared trading days). CRCLX has been the more volatile of the two, at 95% annualised against STRCX's 51%.

Correlation: 0.13
Size ratio: 1.2×
Ahead over 30 days: STRCX

Strategy PP Variable xStockSTRCX

$109.7500

24h: +0.05%
Market cap: $142.24M
Volume 24h: $498,321
Volatility (ann.): 51%

Circle xStockCRCLX

$75.4800

24h: +0.91%
Market cap: $123.57M
Volume 24h: $18.01M
Volatility (ann.): 95%

STRCX 53.5%Share of the two combined market caps46.5% CRCLX

Performance

STRCXCRCLX

7 days+0.05%-5.30%STRCX
30 days+3.64%-15.86%STRCX

Correlation

0.13over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0490d: 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	STRCX	CRCLX
Max drawdown (400d)	-7.5%	-30.8%
Risk-adjusted return (90d)	0.16	0.06

Relative strength over 90 days: STRCX outperformed CRCLX by 2.9% — measured on the STRCX/CRCLX ratio, so it holds regardless of market direction.

Strategy PP Variable xStock →Circle xStock →