iShares MSCI EAFE ETF (Ondo Tokenized ETF) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 4.8× the size of iShares MSCI EAFE ETF (Ondo Tokenized ETF) (EFAON) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 29 shared trading days). EFAON has been the more volatile of the two, at 65% annualised against STRCON's 20%.

Correlation: 0.36
Size ratio: 1 : 4.8

iShares MSCI EAFE ETF (Ondo Tokenized ETF)EFAON

$105.7000

24h: -0.49%
Market cap: $11.08M
Volume 24h: $1
Volatility (ann.): 65%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.6100

24h: -0.03%
Market cap: $53.02M
Volume 24h: $1.14M
Volatility (ann.): 20%

EFAON 17.3%Share of the two combined market caps82.7% STRCON

Performance

EFAONSTRCON

7 days-0.50%+0.80%STRCON
30 days-3.99%+3.71%STRCON
90 days—+18.91%—

Correlation

0.36over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3690d: 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	EFAON	STRCON
Max drawdown (400d)	-14.9%	-4.3%
Risk-adjusted return (90d)	-0.06	1.13

Relative strength over 90 days: STRCON outperformed EFAON by 6.0% — measured on the EFAON/STRCON ratio, so it holds regardless of market direction.

iShares MSCI EAFE ETF (Ondo Tokenized ETF) →Strategy Stretch Preferred (Ondo Tokenized) →