Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 2499.7× the size of Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON) by market capitalisation. Over the past 90 days, SOXSON is ahead by 53.9 percentage points (SOXSON +73.0% against STRCON +19.0%). Their daily returns move barely in opposite directions (correlation -0.15 across 84 shared trading days). SOXSON has been the more volatile of the two, at 180% annualised against STRCON's 20%.

Correlation: -0.15
Size ratio: 1 : 2499.7
Ahead over 90 days: SOXSON

Direxion Daily Semi Bear 3X ETF (Ondo Tokenized)SOXSON

$7.4300

24h: +18.22%
Market cap: $21,208
Volume 24h: $165,332
Volatility (ann.): 180%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.2100

24h: -0.58%
Market cap: $53.01M
Volume 24h: $478,939
Volatility (ann.): 20%

SOXSON 0.0%Share of the two combined market caps100.0% STRCON

Performance

SOXSONSTRCON

7 days+106.84%-0.14%SOXSON
30 days+31.84%+3.40%SOXSON
90 days+72.96%+19.05%SOXSON

Correlation

-0.15over 84 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2790d: -0.151y: 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	SOXSON	STRCON
Max drawdown (400d)	-55.3%	-4.3%
Risk-adjusted return (90d)	0.40	1.14

Relative strength over 90 days: SOXSON outperformed STRCON by 46.0% — measured on the SOXSON/STRCON ratio, so it holds regardless of market direction.

Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) →Strategy Stretch Preferred (Ondo Tokenized) →