XXI Twenty One Capital, Inc.

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

XXI vs IBIT

Both indexed to 100 at 2026-05-11.

XXI IBIT · range 49–105 · 2026-05-11 → 2026-11-06

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

IBIT iShares Bitcoin Trust ETF Shares

ρ +0.50beyond mkt +0.38holdout +0.74stable 75%robust

MSTR Strategy Inc Common Stock Class A

ρ +0.50beyond mkt +0.38holdout +0.75stable 75%robust

COIN Coinbase Global, Inc. Class A Common Stock

ρ +0.44beyond mkt +0.29holdout +0.70stable 75%robust

ASST Strive, Inc. Class A Common Stock

ρ +0.40beyond mkt +0.29holdout +0.64stable 75%robust

DFDV DeFi Development Corp. Common Stock

ρ +0.37beyond mkt +0.25holdout +0.68stable 62%moderate

HOOD Robinhood Markets, Inc. Class A Common Stock

ρ +0.38beyond mkt +0.17holdout +0.59stable 75%robust

No day-to-day relationship, but 5- or 10-day returns move together.

TONX TON Strategy Company Common Stock

horizon 10dρ +0.39holdout +0.46stable 88%robust

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

OSUR OraSure Technologies, Inc. Common Stock

Δ +0.52recent +0.57prior +0.05beyond mkt -0.01

CYRX CryoPort, Inc. Common Stock

Δ +0.47recent +0.65prior +0.17beyond mkt +0.05

HOOD Robinhood Markets, Inc. Class A Common Stock

Δ +0.47recent +0.79prior +0.32beyond mkt +0.17

COIN Coinbase Global, Inc. Class A Common Stock

Δ +0.45recent +0.83prior +0.38beyond mkt +0.29

CNTN Canton Strategic Holdings, Inc. Common Stock

Δ +0.45recent +0.57prior +0.13beyond mkt +0.07

NTNX Nutanix, Inc. Class A Common Stock

Δ +0.44recent +0.49prior +0.05beyond mkt -0.06

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared	isolation
IBIT iShares Bitcoin Trust ETF Shares	+0.38	+0.50	25
MSTR Strategy Inc Common Stock Class A	+0.38	+0.50	26