Tesla (Coinbase Tokenized Stocks) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 66.7× the size of Tesla (Coinbase Tokenized Stocks) (TSLAC) by market capitalisation. Over the past 30 days, TSLAC is ahead by 0.9 percentage points (TSLAC +4.5% against STRCX +3.6%). Their daily returns move barely together (correlation 0.12 across 21 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against TSLAC's 40%.

Correlation: 0.12
Size ratio: 1 : 66.7
Ahead over 30 days: TSLAC

Tesla (Coinbase Tokenized Stocks)TSLAC

$386.9400

24h: -4.29%
Market cap: $2.13M
Volume 24h: $7.76M
Volatility (ann.): 40%

Strategy PP Variable xStockSTRCX

$109.6900

24h: +0.29%
Market cap: $142.13M
Volume 24h: $500,534
Volatility (ann.): 51%

TSLAC 1.5%Share of the two combined market caps98.5% STRCX

Performance

TSLACSTRCX

7 days-3.20%+0.05%STRCX
30 days+4.54%+3.64%TSLAC

Correlation

0.12over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	TSLAC	STRCX
Max drawdown (400d)	-9.3%	-7.5%
Risk-adjusted return (90d)	0.21	0.16

Relative strength over 90 days: TSLAC outperformed STRCX by 2.6% — measured on the TSLAC/STRCX ratio, so it holds regardless of market direction.

Tesla (Coinbase Tokenized Stocks) →Strategy PP Variable xStock →