TSMC xStock vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 28.2× the size of TSMC xStock (TSMX) by market capitalisation. Over the past 30 days, STRCX is ahead by 49.9 percentage points (TSMX -46.8% against STRCX +3.0%). Their daily returns move barely in opposite directions (correlation -0.01 across 30 shared trading days). TSMX has been the more volatile of the two, at 314% annualised against STRCX's 51%.

Correlation: -0.01
Size ratio: 1 : 28.2
Ahead over 30 days: STRCX

TSMC xStockTSMX

$401.8200

24h: -0.39%
Market cap: $5.22M
Volume 24h: $3,979
Volatility (ann.): 314%

Strategy PP Variable xStockSTRCX

$109.4400

24h: +0.45%
Market cap: $147.36M
Volume 24h: $592,243
Volatility (ann.): 51%

TSMX 3.4%Share of the two combined market caps96.6% STRCX

Performance

TSMXSTRCX

7 days-0.85%+5.41%STRCX
30 days-46.85%+3.05%STRCX

Correlation

-0.01over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0190d: 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	TSMX	STRCX
Max drawdown (400d)	-47.7%	-7.5%
Risk-adjusted return (90d)	-0.15	0.16

Relative strength over 90 days: STRCX outperformed TSMX by 47.6% — measured on the TSMX/STRCX ratio, so it holds regardless of market direction.

TSMC xStock →Strategy PP Variable xStock →