Bilibili (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 611.4× the size of Bilibili (Ondo Tokenized Stock) (BILION) by market capitalisation. Over the past 30 days, STRCX is ahead by 8.3 percentage points (BILION -4.6% against STRCX +3.6%). Their daily returns move barely in opposite directions (correlation -0.18 across 20 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against BILION's 42%.

Correlation: -0.18
Size ratio: 1 : 611.4
Ahead over 30 days: STRCX

Bilibili (Ondo Tokenized Stock)BILION

$14.4500

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

Strategy PP Variable xStockSTRCX

$109.7900

24h: +0.10%
Market cap: $142.30M
Volume 24h: $497,156
Volatility (ann.): 51%

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

Performance

BILIONSTRCX

7 days+1.69%+0.05%BILION
30 days-4.63%+3.64%STRCX

Correlation

-0.18over 20 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	STRCX
Max drawdown (400d)	-12.0%	-7.5%
Risk-adjusted return (90d)	-0.11	0.16

Relative strength over 90 days: STRCX outperformed BILION by 8.3% — measured on the BILION/STRCX ratio, so it holds regardless of market direction.

Bilibili (Ondo Tokenized Stock) →Strategy PP Variable xStock →