Tesla xStock vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 2.1× the size of Tesla xStock (TSLAX) by market capitalisation. Over the past 30 days, TSLAX is ahead by 5.2 percentage points (TSLAX +8.3% against STRCX +3.0%). Their daily returns move barely in opposite directions (correlation -0.10 across 53 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against TSLAX's 44%.

Correlation: -0.10
Size ratio: 1 : 2.1
Ahead over 30 days: TSLAX

Tesla xStockTSLAX

$378.6300

24h: -6.98%
Market cap: $69.25M
Volume 24h: $11.94M
Volatility (ann.): 44%

Strategy PP Variable xStockSTRCX

$109.4600

24h: +3.29%
Market cap: $147.39M
Volume 24h: $593,595
Volatility (ann.): 51%

TSLAX 32.0%Share of the two combined market caps68.0% STRCX

Performance

TSLAXSTRCX

7 days-2.29%+5.41%STRCX
30 days+8.26%+3.05%TSLAX

Correlation

-0.10over 53 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3490d: 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	TSLAX	STRCX
Max drawdown (400d)	-7.2%	-7.5%
Risk-adjusted return (90d)	0.31	0.16

Relative strength over 90 days: TSLAX outperformed STRCX by 6.2% — measured on the TSLAX/STRCX ratio, so it holds regardless of market direction.

Tesla xStock →Strategy PP Variable xStock →