Lumentum Holdings (Ondo Tokenized) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 193.6× the size of Lumentum Holdings (Ondo Tokenized) (LITEON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.00 across 35 shared trading days). LITEON has been the more volatile of the two, at 99% annualised against STRCX's 51%.

Correlation: -0.00
Size ratio: 1 : 193.6

Lumentum Holdings (Ondo Tokenized)LITEON

$658.8600

24h: -5.16%
Market cap: $760,042
Volume 24h: $512,851
Volatility (ann.): 99%

Strategy PP Variable xStockSTRCX

$109.2600

24h: +0.33%
Market cap: $147.13M
Volume 24h: $591,035
Volatility (ann.): 51%

LITEON 0.5%Share of the two combined market caps99.5% STRCX

Performance

LITEONSTRCX

7 days-4.30%+5.41%STRCX
30 days+2.49%+3.05%STRCX
90 days+7.09%——

Correlation

-0.00over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0190d: 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	LITEON	STRCX
Max drawdown (400d)	-33.3%	-7.5%
Risk-adjusted return (90d)	0.07	0.16

Relative strength over 90 days: STRCX outperformed LITEON by 11.1% — measured on the LITEON/STRCX ratio, so it holds regardless of market direction.

Lumentum Holdings (Ondo Tokenized) →Strategy PP Variable xStock →