iShares Core S&P 500 ETF (Ondo Tokenized ETF) vs Strategy Stretch Preferred (Ondo Tokenized)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 1.1× the size of Strategy Stretch Preferred (Ondo Tokenized) (STRCON) by market capitalisation. Their daily returns move barely together (correlation 0.29 across 45 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against STRCON's 20%.

Correlation: 0.29
Size ratio: 1.1×

iShares Core S&P 500 ETF (Ondo Tokenized ETF)IVVON

$777.5200

24h: +1.22%
Market cap: $60.56M
Volume 24h: $1,326
Volatility (ann.): 71%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.6900

24h: -0.26%
Market cap: $53.25M
Volume 24h: $703,640
Volatility (ann.): 20%

IVVON 53.2%Share of the two combined market caps46.8% STRCON

Performance

IVVONSTRCON

7 days-1.45%+0.80%STRCON
30 days+9.76%+3.71%IVVON
90 days—+18.91%—

Correlation

0.29over 45 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2990d: 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	IVVON	STRCON
Max drawdown (400d)	-15.7%	-4.3%
Risk-adjusted return (90d)	-0.02	1.13

Relative strength over 90 days: STRCON outperformed IVVON by 7.6% — measured on the IVVON/STRCON ratio, so it holds regardless of market direction.

iShares Core S&P 500 ETF (Ondo Tokenized ETF) →Strategy Stretch Preferred (Ondo Tokenized) →