Bilibili (Ondo Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 594.2× the size of Bilibili (Ondo Tokenized Stock) (BILION) by market capitalisation. Over the past 30 days, MSTRX is ahead by 15.5 percentage points (BILION -4.6% against MSTRX +10.9%). Their daily returns move barely together (correlation 0.02 across 22 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against BILION's 42%.

Correlation: 0.02
Size ratio: 1 : 594.2
Ahead over 30 days: MSTRX

Bilibili (Ondo Tokenized Stock)BILION

$14.4500

24h: +9.40%
Market cap: $232,747
Volume 24h: $21,472
Volatility (ann.): 42%

MicroStrategy xStockMSTRX

$143.2400

24h: +5.94%
Market cap: $138.30M
Volume 24h: $3.75M
Volatility (ann.): 101%

BILION 0.2%Share of the two combined market caps99.8% MSTRX

Performance

BILIONMSTRX

7 days+1.69%+0.26%BILION
30 days-4.63%+10.88%MSTRX

Correlation

0.02over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	BILION	MSTRX
Max drawdown (400d)	-12.0%	-18.3%
Risk-adjusted return (90d)	-0.11	0.38

Relative strength over 90 days: MSTRX outperformed BILION by 23.7% — measured on the BILION/MSTRX ratio, so it holds regardless of market direction.

Bilibili (Ondo Tokenized Stock) →MicroStrategy xStock →