MicroStrategy xStock (MSTRX) is 134.7× the size of Corning (Ondo Tokenized) (GLWON) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 35 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against GLWON's 87%.
$123.3400
GLWONMSTRX
0.06over 35 shared trading days
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.
| Metric | GLWON | MSTRX |
|---|---|---|
| Max drawdown (400d) | -51.8% | -18.3% |
| Risk-adjusted return (90d) | -0.48 | 0.30 |
Relative strength over 90 days: MSTRX outperformed GLWON by 33.9% — measured on the GLWON/MSTRX ratio, so it holds regardless of market direction.