Boeing (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 137.4× the size of Boeing (Ondo Tokenized Stock) (BAON) by market capitalisation. Their daily returns move barely together (correlation 0.30 across 35 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against BAON's 34%.

Correlation: 0.30
Size ratio: 1 : 137.4

Boeing (Ondo Tokenized Stock)BAON

$173.5100

24h: -1.09%
Market cap: $1.07M
Volume 24h: $508,815
Volatility (ann.): 34%

Strategy PP Variable xStockSTRCX

$109.4400

24h: +0.45%
Market cap: $147.36M
Volume 24h: $592,243
Volatility (ann.): 51%

BAON 0.7%Share of the two combined market caps99.3% STRCX

Performance

BAONSTRCX

7 days-1.96%+5.41%STRCX
30 days-5.48%+3.05%STRCX
90 days-8.34%——

Correlation

0.30over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3190d: 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	BAON	STRCX
Max drawdown (400d)	-25.4%	-7.5%
Risk-adjusted return (90d)	-0.25	0.16

Relative strength over 90 days: STRCX outperformed BAON by 17.9% — measured on the BAON/STRCX ratio, so it holds regardless of market direction.

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