ASML Holding NV (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 47.7× the size of ASML Holding NV (Ondo Tokenized Stock) (ASMLON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.27 across 35 shared trading days). Both have run at a similar volatility, around 51% annualised.

Correlation: -0.27
Size ratio: 1 : 47.7

ASML Holding NV (Ondo Tokenized Stock)ASMLON

$1,529.49

24h: -0.82%
Market cap: $3.09M
Volume 24h: $1.45M
Volatility (ann.): 51%

Strategy PP Variable xStockSTRCX

$109.4600

24h: +3.29%
Market cap: $147.39M
Volume 24h: $593,595
Volatility (ann.): 51%

ASMLON 2.1%Share of the two combined market caps97.9% STRCX

Performance

ASMLONSTRCX

7 days+0.14%+5.41%STRCX
30 days+0.82%+3.05%STRCX
90 days-13.96%——
1 year+72.78%——

Correlation

-0.27over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3090d: 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	ASMLON	STRCX
Max drawdown (400d)	-23.9%	-7.5%
Risk-adjusted return (90d)	-0.24	0.16

Relative strength over 90 days: STRCX outperformed ASMLON by 14.3% — measured on the ASMLON/STRCX ratio, so it holds regardless of market direction.

ASML Holding NV (Ondo Tokenized Stock) →Strategy PP Variable xStock →