iShares Gold Trust (Ondo Tokenized Stock) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 30.2× the size of iShares Gold Trust (Ondo Tokenized Stock) (IAUON) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 91 shared trading days). IAUON has been the more volatile of the two, at 31% annualised against STRCON's 20%.

Correlation: 0.36
Size ratio: 1 : 30.2

iShares Gold Trust (Ondo Tokenized Stock)IAUON

$74.1500

24h: -0.21%
Market cap: $1.76M
Volume 24h: $618,275
Volatility (ann.): 31%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.6900

24h: +0.01%
Market cap: $53.06M
Volume 24h: $1.14M
Volatility (ann.): 20%

IAUON 3.2%Share of the two combined market caps96.8% STRCON

Performance

IAUONSTRCON

7 days-4.44%+0.80%STRCON
30 days-6.62%+3.71%STRCON
90 days+3.09%+18.91%STRCON
1 year-1.12%——

Correlation

0.36over 91 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2790d: 0.361y: 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	IAUON	STRCON
Max drawdown (400d)	-28.0%	-4.3%
Risk-adjusted return (90d)	0.12	1.13

Relative strength over 90 days: STRCON outperformed IAUON by 13.5% — measured on the IAUON/STRCON ratio, so it holds regardless of market direction.

iShares Gold Trust (Ondo Tokenized Stock) →Strategy Stretch Preferred (Ondo Tokenized) →