Bloom Energy (Ondo Tokenized) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 178.7× the size of Bloom Energy (Ondo Tokenized) (BEON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 35 shared trading days). BEON has been the more volatile of the two, at 118% annualised against STRCX's 51%.

Correlation: -0.04
Size ratio: 1 : 178.7

Bloom Energy (Ondo Tokenized)BEON

$209.0800

24h: +2.63%
Market cap: $823,820
Volume 24h: $568,880
Volatility (ann.): 118%

Strategy PP Variable xStockSTRCX

$109.3300

24h: +0.47%
Market cap: $147.21M
Volume 24h: $594,635
Volatility (ann.): 51%

BEON 0.6%Share of the two combined market caps99.4% STRCX

Performance

BEONSTRCX

7 days+1.15%+5.41%STRCX
30 days+30.74%+3.05%BEON
90 days+10.31%——

Correlation

-0.04over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0790d: 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	BEON	STRCX
Max drawdown (400d)	-35.3%	-7.5%
Risk-adjusted return (90d)	0.09	0.16

Relative strength over 90 days: BEON outperformed STRCX by 11.8% — measured on the BEON/STRCX ratio, so it holds regardless of market direction.

Bloom Energy (Ondo Tokenized) →Strategy PP Variable xStock →