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

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 76.5× the size of Direxion Daily Semi Bull 3X ETF (Ondo Tokenized) (SOXLON) by market capitalisation. Over the past 90 days, STRCON is ahead by 81.6 percentage points (SOXLON -62.7% against STRCON +18.9%). Their daily returns move barely together (correlation 0.16 across 84 shared trading days). SOXLON has been the more volatile of the two, at 182% annualised against STRCON's 20%.

Correlation: 0.16
Size ratio: 1 : 76.5
Ahead over 90 days: STRCON

Direxion Daily Semi Bull 3X ETF (Ondo Tokenized)SOXLON

$63.7500

24h: -10.56%
Market cap: $696,823
Volume 24h: $2.08M
Volatility (ann.): 182%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.8200

24h: +0.17%
Market cap: $53.31M
Volume 24h: $711,613
Volatility (ann.): 20%

SOXLON 1.3%Share of the two combined market caps98.7% STRCON

Performance

SOXLONSTRCON

7 days-50.74%+0.56%STRCON
30 days-31.48%+4.00%STRCON
90 days-62.73%+18.88%STRCON

Correlation

0.16over 84 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1890d: 0.161y: 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	SOXLON	STRCON
Max drawdown (400d)	-62.8%	-4.3%
Risk-adjusted return (90d)	-0.35	1.13

Relative strength over 90 days: STRCON outperformed SOXLON by 68.7% — measured on the SOXLON/STRCON ratio, so it holds regardless of market direction.

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