Moderna (Ondo Tokenized) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 570.1× the size of Moderna (Ondo Tokenized) (MRNAON) by market capitalisation. Over the past 30 days, MRNAON is ahead by 46.7 percentage points (MRNAON +57.6% against MSTRX +10.9%). Their daily returns move loosely together (correlation 0.44 across 41 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against MRNAON's 85%.

Correlation: 0.44
Size ratio: 1 : 570.1
Ahead over 30 days: MRNAON

Moderna (Ondo Tokenized)MRNAON

$258.3800

24h: +13.47%
Market cap: $222,388
Volume 24h: $401,190
Volatility (ann.): 85%

MicroStrategy xStockMSTRX

$131.0000

24h: -9.56%
Market cap: $126.79M
Volume 24h: $3.18M
Volatility (ann.): 101%

MRNAON 0.2%Share of the two combined market caps99.8% MSTRX

Performance

MRNAONMSTRX

7 days+14.97%+0.26%MRNAON
30 days+57.57%+10.88%MRNAON

Correlation

0.44over 41 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5190d: 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	MRNAON	MSTRX
Max drawdown (400d)	-14.0%	-18.3%
Risk-adjusted return (90d)	0.88	0.38

Relative strength over 90 days: MRNAON outperformed MSTRX by 36.0% — measured on the MRNAON/MSTRX ratio, so it holds regardless of market direction.

Moderna (Ondo Tokenized) →MicroStrategy xStock →