iShares TIPS Bond ETF (Ondo Tokenized ETF) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 4.8× the size of iShares TIPS Bond ETF (Ondo Tokenized ETF) (TIPON) by market capitalisation. Their daily returns move barely together (correlation 0.25 across 28 shared trading days). TIPON has been the more volatile of the two, at 58% annualised against STRCON's 20%.

Correlation: 0.25
Size ratio: 1 : 4.8

iShares TIPS Bond ETF (Ondo Tokenized ETF)TIPON

$110.6200

24h: -0.32%
Market cap: $11.10M
Volume 24h: $5
Volatility (ann.): 58%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.6700

24h: +0.02%
Market cap: $53.00M
Volume 24h: $1.14M
Volatility (ann.): 20%

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

Performance

TIPONSTRCON

7 days-0.82%+0.80%STRCON
30 days-2.82%+3.71%STRCON
90 days—+18.91%—

Correlation

0.25over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2590d: 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	TIPON	STRCON
Max drawdown (400d)	-12.6%	-4.3%
Risk-adjusted return (90d)	-0.05	1.13

Relative strength over 90 days: STRCON outperformed TIPON by 4.8% — measured on the TIPON/STRCON ratio, so it holds regardless of market direction.

iShares TIPS Bond ETF (Ondo Tokenized ETF) →Strategy Stretch Preferred (Ondo Tokenized) →