Strategy PP Variable xStock (STRCX) is 21710.9× the size of MaxLinear (Ondo Tokenized) (MXLON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.14 across 43 shared trading days). MXLON has been the more volatile of the two, at 128% annualised against STRCX's 51%.
$62.0700
$109.6500
MXLONSTRCX
-0.14over 43 shared trading days
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.
| Metric | MXLON | STRCX |
|---|---|---|
| Max drawdown (400d) | -32.4% | -7.5% |
| Risk-adjusted return (90d) | -0.16 | 0.16 |
Relative strength over 90 days: STRCX outperformed MXLON by 29.4% — measured on the MXLON/STRCX ratio, so it holds regardless of market direction.