MicroStrategy (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 6.7× the size of MicroStrategy (Ondo Tokenized Stock) (MSTRON) by market capitalisation. Over the past 30 days, MSTRON is ahead by 7.3 percentage points (MSTRON +10.3% against STRCX +3.0%). Their daily returns move barely in opposite directions (correlation -0.23 across 26 shared trading days). MSTRON has been the more volatile of the two, at 104% annualised against STRCX's 51%.

Correlation: -0.23
Size ratio: 1 : 6.7
Ahead over 30 days: MSTRON

MicroStrategy (Ondo Tokenized Stock)MSTRON

$132.5300

24h: +0.41%
Market cap: $22.01M
Volume 24h: $1.22M
Volatility (ann.): 104%

Strategy PP Variable xStockSTRCX

$109.3300

24h: +0.18%
Market cap: $147.22M
Volume 24h: $596,482
Volatility (ann.): 51%

MSTRON 13.0%Share of the two combined market caps87.0% STRCX

Performance

MSTRONSTRCX

7 days-13.56%+5.41%STRCX
30 days+10.32%+3.05%MSTRON

Correlation

-0.23over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2390d: 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	MSTRON	STRCX
Max drawdown (400d)	-13.8%	-7.5%
Risk-adjusted return (90d)	0.05	0.16

Relative strength over 90 days: MSTRON outperformed STRCX by 1.4% — measured on the MSTRON/STRCX ratio, so it holds regardless of market direction.

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