Cerebras Systems (Ondo Tokenized) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 472.2× the size of Cerebras Systems (Ondo Tokenized) (CBRSON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.02 across 44 shared trading days). CBRSON has been the more volatile of the two, at 135% annualised against STRCX's 51%.

Correlation: -0.02
Size ratio: 1 : 472.2

Cerebras Systems (Ondo Tokenized)CBRSON

$90.5600

24h: -5.93%
Market cap: $300,662
Volume 24h: $281,739
Volatility (ann.): 135%

Strategy PP Variable xStockSTRCX

$109.5300

24h: +0.10%
Market cap: $141.97M
Volume 24h: $405,953
Volatility (ann.): 51%

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

Performance

CBRSONSTRCX

7 days-21.81%+0.05%STRCX
30 days-56.23%+3.64%STRCX
90 days-53.67%——

Correlation

-0.02over 44 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0590d: 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	CBRSON	STRCX
Max drawdown (400d)	-63.4%	-7.5%
Risk-adjusted return (90d)	-0.39	0.16

Relative strength over 90 days: STRCX outperformed CBRSON by 66.1% — measured on the CBRSON/STRCX ratio, so it holds regardless of market direction.

Cerebras Systems (Ondo Tokenized) →Strategy PP Variable xStock →