Taiwan Semiconductor Manufacturing • Robinhood Token vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 112.0× the size of Taiwan Semiconductor Manufacturing • Robinhood Token (TSM) by market capitalisation. Over the past 30 days, STRCX is ahead by 8.7 percentage points (TSM -5.6% against STRCX +3.0%). Their daily returns move barely in opposite directions (correlation -0.21 across 27 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against TSM's 32%.

Correlation: -0.21
Size ratio: 1 : 112.0
Ahead over 30 days: STRCX

Taiwan Semiconductor Manufacturing • Robinhood TokenTSM

$401.2900

24h: -1.04%
Market cap: $1.31M
Volume 24h: $926,332
Volatility (ann.): 32%

Strategy PP Variable xStockSTRCX

$109.3300

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

TSM 0.9%Share of the two combined market caps99.1% STRCX

Performance

TSMSTRCX

7 days-11.63%+5.41%STRCX
30 days-5.65%+3.05%STRCX

Correlation

-0.21over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2190d: 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	TSM	STRCX
Max drawdown (400d)	-11.7%	-7.5%
Risk-adjusted return (90d)	-0.09	0.16

Relative strength over 90 days: STRCX outperformed TSM by 7.5% — measured on the TSM/STRCX ratio, so it holds regardless of market direction.

Taiwan Semiconductor Manufacturing • Robinhood Token →Strategy PP Variable xStock →