iShares Russell 2000 ETF (Ondo Tokenized ETF) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 16.2× the size of iShares Russell 2000 ETF (Ondo Tokenized ETF) (IWMON) by market capitalisation. Their daily returns move barely together (correlation 0.31 across 29 shared trading days). IWMON has been the more volatile of the two, at 68% annualised against STRCON's 20%.

Correlation: 0.31
Size ratio: 1 : 16.2

iShares Russell 2000 ETF (Ondo Tokenized ETF)IWMON

$280.9900

24h: -0.59%
Market cap: $3.30M
Volume 24h: $28
Volatility (ann.): 68%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.6900

24h: -0.11%
Market cap: $53.24M
Volume 24h: $693,931
Volatility (ann.): 20%

IWMON 5.8%Share of the two combined market caps94.2% STRCON

Performance

IWMONSTRCON

7 days-2.16%+0.80%STRCON
30 days-5.06%+3.71%STRCON
90 days—+18.91%—

Correlation

0.31over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3190d: 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	IWMON	STRCON
Max drawdown (400d)	-14.5%	-4.3%
Risk-adjusted return (90d)	-0.07	1.13

Relative strength over 90 days: STRCON outperformed IWMON by 7.4% — measured on the IWMON/STRCON ratio, so it holds regardless of market direction.

iShares Russell 2000 ETF (Ondo Tokenized ETF) →Strategy Stretch Preferred (Ondo Tokenized) →