Strategy PP Variable xStock (STRCX) is 17.7× the size of AMD (Ondo Tokenized Stock) (AMDON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.10 across 36 shared trading days). AMDON has been the more volatile of the two, at 74% annualised against STRCX's 51%.
$504.9000
$109.3300
AMDONSTRCX
-0.10over 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 | STRCX |
|---|---|---|
| Max drawdown (400d) | -27.9% | -7.5% |
| Risk-adjusted return (90d) | -0.04 | 0.16 |
Relative strength over 90 days: STRCX outperformed AMDON by 2.2% — measured on the AMDON/STRCX ratio, so it holds regardless of market direction.