Strategy PP Variable xStock (STRCX) is 15.9× the size of Microsoft (Ondo Tokenized Stock) (MSFTON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.06 across 39 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against MSFTON's 29%.
$514.2000
$109.7500
MSFTONSTRCX
-0.06over 39 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 | MSFTON | STRCX |
|---|---|---|
| Max drawdown (400d) | -34.4% | -7.5% |
| Risk-adjusted return (90d) | 1.19 | 0.16 |
| Best 30 days (past year) | +31.0% | — |
| Worst 30 days (past year) | -18.5% | — |
Relative strength over 90 days: MSFTON outperformed STRCX by 2.8% — measured on the MSFTON/STRCX ratio, so it holds regardless of market direction.