Arista Networks (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 273.7× the size of Arista Networks (Ondo Tokenized Stock) (ANETON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.05 across 35 shared trading days). ANETON has been the more volatile of the two, at 59% annualised against STRCX's 51%.

Correlation: -0.05
Size ratio: 1 : 273.7

Arista Networks (Ondo Tokenized Stock)ANETON

$176.7600

24h: -2.43%
Market cap: $493,091
Volume 24h: $479,813
Volatility (ann.): 59%

Strategy PP Variable xStockSTRCX

$109.0700

24h: -0.52%
Market cap: $134.94M
Volume 24h: $2.50M
Volatility (ann.): 51%

ANETON 0.4%Share of the two combined market caps99.6% STRCX

Performance

ANETONSTRCX

7 days-0.90%+0.05%STRCX
30 days+4.35%+3.64%ANETON
90 days+19.44%——

Correlation

-0.05over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0690d: 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	ANETON	STRCX
Max drawdown (400d)	-23.2%	-7.5%
Risk-adjusted return (90d)	0.32	0.16

Relative strength over 90 days: STRCX outperformed ANETON by 4.8% — measured on the ANETON/STRCX ratio, so it holds regardless of market direction.

Arista Networks (Ondo Tokenized Stock) →Strategy PP Variable xStock →