AST SpaceMobile (Ondo Tokenized) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 56.3× the size of AST SpaceMobile (Ondo Tokenized) (ASTSON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.05 across 35 shared trading days). ASTSON has been the more volatile of the two, at 108% annualised against STRCX's 51%.

Correlation: -0.05
Size ratio: 1 : 56.3

AST SpaceMobile (Ondo Tokenized)ASTSON

$35.3700

24h: -2.70%
Market cap: $2.52M
Volume 24h: $549,336
Volatility (ann.): 108%

Strategy PP Variable xStockSTRCX

$109.3900

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

ASTSON 1.7%Share of the two combined market caps98.3% STRCX

Performance

ASTSONSTRCX

7 days-2.92%+0.05%STRCX
30 days+3.15%+3.64%STRCX
90 days-31.58%——

Correlation

-0.05over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0890d: 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	ASTSON	STRCX
Max drawdown (400d)	-59.3%	-7.5%
Risk-adjusted return (90d)	-0.36	0.16

Relative strength over 90 days: STRCX outperformed ASTSON by 20.4% — measured on the ASTSON/STRCX ratio, so it holds regardless of market direction.

AST SpaceMobile (Ondo Tokenized) →Strategy PP Variable xStock →