iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 3.7× the size of iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF) (AGGON) by market capitalisation. Their daily returns move barely together (correlation 0.10 across 91 shared trading days). STRCON has been the more volatile of the two, at 20% annualised against AGGON's 9%.

Correlation: 0.10
Size ratio: 1 : 3.7

iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF)AGGON

$96.2900

24h: -0.03%
Market cap: $14.26M
Volume 24h: $120,562
Volatility (ann.): 9%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.7100

24h: -0.04%
Market cap: $53.07M
Volume 24h: $510,794
Volatility (ann.): 20%

AGGON 21.2%Share of the two combined market caps78.8% STRCON

Performance

AGGONSTRCON

7 days-1.46%+0.80%STRCON
30 days-2.26%+3.71%STRCON
90 days-2.47%+18.91%STRCON
1 year-3.10%——

Correlation

0.10over 91 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2590d: 0.101y: 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	AGGON	STRCON
Max drawdown (400d)	-6.4%	-4.3%
Risk-adjusted return (90d)	-0.21	1.13

Relative strength over 90 days: STRCON outperformed AGGON by 19.7% — measured on the AGGON/STRCON ratio, so it holds regardless of market direction.

iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF) →Strategy Stretch Preferred (Ondo Tokenized) →