GameStop (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 243.7× the size of GameStop (Ondo Tokenized Stock) (GMEON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.32 across 35 shared trading days). Both have run at a similar volatility, around 48% annualised.

Correlation: -0.32
Size ratio: 1 : 243.7

GameStop (Ondo Tokenized Stock)GMEON

$25.7500

24h: +5.64%
Market cap: $583,801
Volume 24h: $512,039
Volatility (ann.): 45%

Strategy PP Variable xStockSTRCX

$109.7900

24h: +0.10%
Market cap: $142.30M
Volume 24h: $497,156
Volatility (ann.): 51%

GMEON 0.4%Share of the two combined market caps99.6% STRCX

Performance

GMEONSTRCX

7 days-0.38%+0.05%STRCX
30 days+28.57%+3.64%GMEON
90 days+4.37%——
1 year-13.94%——

Correlation

-0.32over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3490d: 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	GMEON	STRCX
Max drawdown (400d)	-36.4%	-7.5%
Risk-adjusted return (90d)	0.10	0.16

Relative strength over 90 days: GMEON outperformed STRCX by 17.3% — measured on the GMEON/STRCX ratio, so it holds regardless of market direction.

GameStop (Ondo Tokenized Stock) →Strategy PP Variable xStock →