Cloudflare (Ondo Tokenized) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 590.0× the size of Cloudflare (Ondo Tokenized) (NETON) by market capitalisation. Over the past 30 days, NETON is ahead by 4.6 percentage points (NETON +15.5% against MSTRX +10.9%). Their daily returns move loosely together (correlation 0.43 across 35 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against NETON's 72%.

Correlation: 0.43
Size ratio: 1 : 590.0
Ahead over 30 days: NETON

Cloudflare (Ondo Tokenized)NETON

$262.8900

24h: -1.54%
Market cap: $208,359
Volume 24h: $163,878
Volatility (ann.): 72%

MicroStrategy xStockMSTRX

$127.2200

24h: -11.20%
Market cap: $122.92M
Volume 24h: $3.74M
Volatility (ann.): 101%

NETON 0.2%Share of the two combined market caps99.8% MSTRX

Performance

NETONMSTRX

7 days-1.48%+0.26%MSTRX
30 days+15.47%+10.88%NETON

Correlation

0.43over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4890d: 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	NETON	MSTRX
Max drawdown (400d)	-16.6%	-18.3%
Risk-adjusted return (90d)	0.46	0.38

Relative strength over 90 days: MSTRX outperformed NETON by 20.9% — measured on the NETON/MSTRX ratio, so it holds regardless of market direction.

Cloudflare (Ondo Tokenized) →MicroStrategy xStock →