MicroStrategy xStock (MSTRX) is 15.7× the size of AMD (Ondo Tokenized Stock) (AMDON) by market capitalisation. Their daily returns move loosely together (correlation 0.54 across 36 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against AMDON's 74%.
$504.9000
AMDONMSTRX
0.54over 36 shared trading days
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.
| Metric | AMDON | MSTRX |
|---|---|---|
| Max drawdown (400d) | -27.9% | -18.3% |
| Risk-adjusted return (90d) | -0.04 | 0.30 |
Relative strength over 90 days: MSTRX outperformed AMDON by 16.2% — measured on the AMDON/MSTRX ratio, so it holds regardless of market direction.