Cloudflare (Ondo Tokenized) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 678.4× the size of Cloudflare (Ondo Tokenized) (NETON) by market capitalisation. Over the past 30 days, NETON is ahead by 11.8 percentage points (NETON +15.5% against STRCX +3.6%). Their daily returns move barely in opposite directions (correlation -0.08 across 35 shared trading days). NETON has been the more volatile of the two, at 72% annualised against STRCX's 51%.

Correlation: -0.08
Size ratio: 1 : 678.4
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%

Strategy PP Variable xStockSTRCX

$109.0900

24h: -0.43%
Market cap: $141.35M
Volume 24h: $1.06M
Volatility (ann.): 51%

NETON 0.1%Share of the two combined market caps99.9% STRCX

Performance

NETONSTRCX

7 days-1.48%+0.05%STRCX
30 days+15.47%+3.64%NETON

Correlation

-0.08over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0990d: 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	STRCX
Max drawdown (400d)	-16.6%	-7.5%
Risk-adjusted return (90d)	0.46	0.16

Relative strength over 90 days: NETON outperformed STRCX by 6.5% — measured on the NETON/STRCX ratio, so it holds regardless of market direction.

Cloudflare (Ondo Tokenized) →Strategy PP Variable xStock →