Bank of America (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 5448.3× the size of Bank of America (Ondo Tokenized Stock) (BACON) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 35 shared trading days). STRCX has been the more volatile of the two, at 50% annualised against BACON's 22%.

Correlation: 0.06
Size ratio: 1 : 5448.3

Bank of America (Ondo Tokenized Stock)BACON

$50.4900

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

Strategy PP Variable xStockSTRCX

$109.3300

24h: -0.06%
Market cap: $135.38M
Volume 24h: $2.54M
Volatility (ann.): 50%

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

Performance

BACONSTRCX

7 days-1.59%-0.16%STRCX
30 days-8.03%+2.84%STRCX
90 days-0.43%——

Correlation

0.06over 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	BACON	STRCX
Max drawdown (400d)	-16.8%	-7.5%
Risk-adjusted return (90d)	-0.02	0.15

Relative strength over 90 days: STRCX outperformed BACON by 15.7% — measured on the BACON/STRCX ratio, so it holds regardless of market direction.

Bank of America (Ondo Tokenized Stock) →Strategy PP Variable xStock →