MicroStrategy xStock (MSTRX) is 543.3× the size of Credo Technology Group Holding (Ondo Tokenized) (CRDOON) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 35 shared trading days). Both have run at a similar volatility, around 102% annualised.
$133.3100
CRDOONMSTRX
0.41over 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 | CRDOON | MSTRX |
|---|---|---|
| Max drawdown (400d) | -46.9% | -18.3% |
| Risk-adjusted return (90d) | -0.22 | 0.38 |
Relative strength over 90 days: MSTRX outperformed CRDOON by 44.1% — measured on the CRDOON/MSTRX ratio, so it holds regardless of market direction.