MicroStrategy xStock (MSTRX) is 52.7× the size of McDonald's (Ondo Tokenized Stock) (MCDON) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.44 across 43 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against MCDON's 20%.
$264.3600
MCDONMSTRX
-0.44over 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 | MCDON | MSTRX |
|---|---|---|
| Max drawdown (400d) | -30.0% | -18.3% |
| Risk-adjusted return (90d) | -0.20 | 0.30 |
| Best 30 days (past year) | +9.3% | — |
| Worst 30 days (past year) | -12.1% | — |
Relative strength over 90 days: MSTRX outperformed MCDON by 25.1% — measured on the MCDON/MSTRX ratio, so it holds regardless of market direction.