Dell Technologies (Ondo Tokenized) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 198.5× the size of Dell Technologies (Ondo Tokenized) (DELLON) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 35 shared trading days). DELLON has been the more volatile of the two, at 74% annualised against STRCX's 51%.

Correlation: 0.07
Size ratio: 1 : 198.5

Dell Technologies (Ondo Tokenized)DELLON

$402.0800

24h: +1.17%
Market cap: $742,343
Volume 24h: $287,895
Volatility (ann.): 74%

Strategy PP Variable xStockSTRCX

$109.4100

24h: +0.30%
Market cap: $147.32M
Volume 24h: $601,475
Volatility (ann.): 51%

DELLON 0.5%Share of the two combined market caps99.5% STRCX

Performance

DELLONSTRCX

7 days-4.23%+5.41%STRCX
30 days+21.12%+3.05%DELLON
90 days+29.34%——

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	DELLON	STRCX
Max drawdown (400d)	-19.4%	-7.5%
Risk-adjusted return (90d)	0.39	0.16

Relative strength over 90 days: DELLON outperformed STRCX by 8.7% — measured on the DELLON/STRCX ratio, so it holds regardless of market direction.

Dell Technologies (Ondo Tokenized) →Strategy PP Variable xStock →