Mastercard (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 103.9× the size of Mastercard (Ondo Tokenized Stock) (MAON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.08 across 35 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against MAON's 23%.

Correlation: -0.08
Size ratio: 1 : 103.9

Mastercard (Ondo Tokenized Stock)MAON

$650.6800

24h: -1.53%
Market cap: $1.42M
Volume 24h: $596,687
Volatility (ann.): 23%

Strategy PP Variable xStockSTRCX

$109.4400

24h: +0.45%
Market cap: $147.36M
Volume 24h: $592,243
Volatility (ann.): 51%

MAON 1.0%Share of the two combined market caps99.0% STRCX

Performance

MAONSTRCX

7 days+1.95%+5.41%STRCX
30 days-4.51%+3.05%STRCX
90 days+8.46%——
1 year-0.30%——

Correlation

-0.08over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0890d: 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	MAON	STRCX
Max drawdown (400d)	-18.9%	-7.5%
Risk-adjusted return (90d)	0.39	0.16

Relative strength over 90 days: STRCX outperformed MAON by 5.3% — measured on the MAON/STRCX ratio, so it holds regardless of market direction.

Mastercard (Ondo Tokenized Stock) →Strategy PP Variable xStock →