American Airlines Group (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 9286.7× the size of American Airlines Group (Ondo Tokenized Stock) (AALON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.28 across 35 shared trading days). Both have run at a similar volatility, around 52% annualised.

Correlation: -0.28
Size ratio: 1 : 9286.7

American Airlines Group (Ondo Tokenized Stock)AALON

$13.6800

24h: +6.51%
Market cap: $14,538
Volume 24h: $158,782
Volatility (ann.): 54%

Strategy PP Variable xStockSTRCX

$109.1000

24h: -0.73%
Market cap: $135.01M
Volume 24h: $2.48M
Volatility (ann.): 51%

AALON 0.0%Share of the two combined market caps100.0% STRCX

Performance

AALONSTRCX

7 days+0.51%+0.05%AALON
30 days+0.00%+3.64%STRCX
90 days-24.59%——

Correlation

-0.28over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3290d: 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	AALON	STRCX
Max drawdown (400d)	-35.2%	-7.5%
Risk-adjusted return (90d)	-0.58	0.16

Relative strength over 90 days: STRCX outperformed AALON by 11.2% — measured on the AALON/STRCX ratio, so it holds regardless of market direction.

American Airlines Group (Ondo Tokenized Stock) →Strategy PP Variable xStock →