Strategy PP Variable xStock vs MicroStrategy xStock

Strategy PP Variable xStock (STRCX) is 1.0× the size of MicroStrategy xStock (MSTRX) by market capitalisation. Over the past 30 days, MSTRX is ahead by 7.2 percentage points (STRCX +3.6% against MSTRX +10.9%). Their daily returns move barely in opposite directions (correlation -0.06 across 54 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against STRCX's 51%.

Correlation: -0.06
Size ratio: 1.0×
Ahead over 30 days: MSTRX

Strategy PP Variable xStockSTRCX

$109.7500

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

MicroStrategy xStockMSTRX

$143.5600

24h: +6.10%
Market cap: $138.62M
Volume 24h: $3.79M
Volatility (ann.): 101%

STRCX 50.6%Share of the two combined market caps49.4% MSTRX

Performance

STRCXMSTRX

7 days+0.05%+0.26%MSTRX
30 days+3.64%+10.88%MSTRX

Correlation

-0.06over 54 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2390d: 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	MSTRX
Max drawdown (400d)	-7.5%	-18.3%
Risk-adjusted return (90d)	0.16	0.38

Relative strength over 90 days: MSTRX outperformed STRCX by 22.9% — measured on the STRCX/MSTRX ratio, so it holds regardless of market direction.

Strategy PP Variable xStock →MicroStrategy xStock →