Constellation Energy (Ondo Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 169.1× the size of Constellation Energy (Ondo Tokenized Stock) (CEGON) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 35 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against CEGON's 44%.

Correlation: 0.07
Size ratio: 1 : 169.1

Constellation Energy (Ondo Tokenized Stock)CEGON

$260.7800

24h: +0.43%
Market cap: $764,909
Volume 24h: $156,223
Volatility (ann.): 44%

MicroStrategy xStockMSTRX

$136.1500

24h: +2.03%
Market cap: $129.34M
Volume 24h: $2.95M
Volatility (ann.): 101%

CEGON 0.6%Share of the two combined market caps99.4% MSTRX

Performance

CEGONMSTRX

7 days-0.79%-3.45%CEGON
30 days-5.82%+4.70%MSTRX
90 days+4.84%——

Correlation

0.07over 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	CEGON	MSTRX
Max drawdown (400d)	-29.7%	-18.3%
Risk-adjusted return (90d)	0.14	0.30

Relative strength over 90 days: MSTRX outperformed CEGON by 37.3% — measured on the CEGON/MSTRX ratio, so it holds regardless of market direction.

Constellation Energy (Ondo Tokenized Stock) →MicroStrategy xStock →