MicroStrategy xStock (MSTRX) is 1069.8× the size of Astera Labs (Ondo Tokenized) (ALABON) by market capitalisation. Their daily returns move loosely together (correlation 0.46 across 35 shared trading days). Both have run at a similar volatility, around 103% annualised.
$216.8800
ALABONMSTRX
0.46over 35 shared trading days
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.
| Metric | ALABON | MSTRX |
|---|---|---|
| Max drawdown (400d) | -39.7% | -18.3% |
| Risk-adjusted return (90d) | -0.12 | 0.38 |
Relative strength over 90 days: MSTRX outperformed ALABON by 21.1% — measured on the ALABON/MSTRX ratio, so it holds regardless of market direction.