AppLovin (Ondo Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 322.9× the size of AppLovin (Ondo Tokenized Stock) (APPON) by market capitalisation. Over the past 30 days, MSTRX is ahead by 30.9 percentage points (APPON -26.2% against MSTRX +4.7%). Their daily returns move loosely in opposite directions (correlation -0.42 across 21 shared trading days). APPON has been the more volatile of the two, at 302% annualised against MSTRX's 101%.

Correlation: -0.42
Size ratio: 1 : 322.9
Ahead over 30 days: MSTRX

AppLovin (Ondo Tokenized Stock)APPON

$239.4200

24h: +4.06%
Market cap: $400,519
Volume 24h: $104
Volatility (ann.): 302%

MicroStrategy xStockMSTRX

$135.5500

24h: +2.69%
Market cap: $129.31M
Volume 24h: $2.93M
Volatility (ann.): 101%

APPON 0.3%Share of the two combined market caps99.7% MSTRX

Performance

APPONMSTRX

7 days-26.21%-3.45%MSTRX
30 days-26.16%+4.70%MSTRX

Correlation

-0.42over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	APPON	MSTRX
Max drawdown (400d)	-51.9%	-18.3%
Risk-adjusted return (90d)	-0.09	0.30

Relative strength over 90 days: MSTRX outperformed APPON by 32.3% — measured on the APPON/MSTRX ratio, so it holds regardless of market direction.

AppLovin (Ondo Tokenized Stock) →MicroStrategy xStock →