Bank of America (Ondo Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 5063.1× the size of Bank of America (Ondo Tokenized Stock) (BACON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.25 across 35 shared trading days). MSTRX has been the more volatile of the two, at 105% annualised against BACON's 22%.

Correlation: -0.25
Size ratio: 1 : 5063.1

Bank of America (Ondo Tokenized Stock)BACON

$50.4900

24h: -3.58%
Market cap: $24,848
Volume 24h: $146,863
Volatility (ann.): 22%

MicroStrategy xStockMSTRX

$129.1500

24h: -10.27%
Market cap: $125.81M
Volume 24h: $5.44M
Volatility (ann.): 105%

BACON 0.0%Share of the two combined market caps100.0% MSTRX

Performance

BACONMSTRX

7 days-1.59%-5.57%BACON
30 days-8.03%-6.73%MSTRX
90 days-0.43%——

Correlation

-0.25over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2190d: 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	BACON	MSTRX
Max drawdown (400d)	-16.8%	-20.7%
Risk-adjusted return (90d)	-0.02	0.21

Relative strength over 90 days: MSTRX outperformed BACON by 40.0% — measured on the BACON/MSTRX ratio, so it holds regardless of market direction.

Bank of America (Ondo Tokenized Stock) →MicroStrategy xStock →