Circle Internet Group (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 1.7× the size of Circle Internet Group (Ondo Tokenized Stock) (CRCLON) by market capitalisation. Over the past 30 days, STRCX is ahead by 33.1 percentage points (CRCLON -30.3% against STRCX +2.8%). Their daily returns move barely together (correlation 0.14 across 57 shared trading days). CRCLON has been the more volatile of the two, at 100% annualised against STRCX's 50%.

Correlation: 0.14
Size ratio: 1 : 1.7
Ahead over 30 days: STRCX

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$68.2600

24h: -9.59%
Market cap: $80.55M
Volume 24h: $1.33M
Volatility (ann.): 100%

Strategy PP Variable xStockSTRCX

$109.3400

24h: -0.05%
Market cap: $135.40M
Volume 24h: $2.54M
Volatility (ann.): 50%

CRCLON 37.3%Share of the two combined market caps62.7% STRCX

Performance

CRCLONSTRCX

7 days-11.43%-0.16%STRCX
30 days-30.30%+2.84%STRCX

Correlation

0.14over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0690d: 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	CRCLON	STRCX
Max drawdown (400d)	-34.9%	-7.5%
Risk-adjusted return (90d)	-0.05	0.15

Relative strength over 90 days: STRCX outperformed CRCLON by 12.4% — measured on the CRCLON/STRCX ratio, so it holds regardless of market direction.

Circle Internet Group (Ondo Tokenized Stock) →Strategy PP Variable xStock →