MercadoLibre (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 212.2× the size of MercadoLibre (Ondo Tokenized Stock) (MELION) by market capitalisation. Over the past 30 days, MELION is ahead by 10.6 percentage points (MELION +13.6% against STRCX +3.0%). Their daily returns move barely in opposite directions (correlation -0.31 across 21 shared trading days). MELION has been the more volatile of the two, at 101% annualised against STRCX's 51%.

Correlation: -0.31
Size ratio: 1 : 212.2
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%

Strategy PP Variable xStockSTRCX

$109.4600

24h: +3.29%
Market cap: $147.39M
Volume 24h: $593,595
Volatility (ann.): 51%

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

Performance

MELIONSTRCX

7 days+21.76%+5.41%MELION
30 days+13.61%+3.05%MELION

Correlation

-0.31over 21 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	STRCX
Max drawdown (400d)	-14.6%	-7.5%
Risk-adjusted return (90d)	0.13	0.16

Relative strength over 90 days: MELION outperformed STRCX by 13.8% — measured on the MELION/STRCX ratio, so it holds regardless of market direction.

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