Amgen (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 17196.5× the size of Amgen (Ondo Tokenized Stock) (AMGNON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.25 across 35 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against AMGNON's 28%.

Correlation: -0.25
Size ratio: 1 : 17196.5

Amgen (Ondo Tokenized Stock)AMGNON

$486.3100

24h: +6.15%
Market cap: $8,245
Volume 24h: $157,421
Volatility (ann.): 28%

Strategy PP Variable xStockSTRCX

$109.3900

24h: +0.06%
Market cap: $141.78M
Volume 24h: $406,697
Volatility (ann.): 51%

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

Performance

AMGNONSTRCX

7 days+5.78%+0.05%AMGNON
30 days-3.86%+3.64%STRCX
90 days+15.42%——

Correlation

-0.25over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2990d: 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	AMGNON	STRCX
Max drawdown (400d)	-15.3%	-7.5%
Risk-adjusted return (90d)	0.48	0.16

Relative strength over 90 days: STRCX outperformed AMGNON by 6.5% — measured on the AMGNON/STRCX ratio, so it holds regardless of market direction.

Amgen (Ondo Tokenized Stock) →Strategy PP Variable xStock →