MercadoLibre (Ondo Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 185.5× the size of MercadoLibre (Ondo Tokenized Stock) (MELION) by market capitalisation. Over the past 30 days, MELION is ahead by 8.9 percentage points (MELION +13.6% against MSTRX +4.7%). Their daily returns move loosely in opposite directions (correlation -0.43 across 23 shared trading days). Both have run at a similar volatility, around 101% annualised.

Correlation: -0.43
Size ratio: 1 : 185.5
Ahead over 30 days: MELION

MercadoLibre (Ondo Tokenized Stock)MELION

$1,646.79

24h: -2.41%
Market cap: $694,467
Volume 24h: $24
Volatility (ann.): 101%

MicroStrategy xStockMSTRX

$135.6200

24h: +2.65%
Market cap: $128.83M
Volume 24h: $2.89M
Volatility (ann.): 101%

MELION 0.5%Share of the two combined market caps99.5% MSTRX

Performance

MELIONMSTRX

7 days+21.76%-3.45%MELION
30 days+13.61%+4.70%MELION

Correlation

-0.43over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	MELION	MSTRX
Max drawdown (400d)	-14.6%	-18.3%
Risk-adjusted return (90d)	0.13	0.30

Relative strength over 90 days: MELION outperformed MSTRX by 11.4% — measured on the MELION/MSTRX ratio, so it holds regardless of market direction.

MercadoLibre (Ondo Tokenized Stock) →MicroStrategy xStock →