Moderna (Ondo Tokenized) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 635.5× the size of Moderna (Ondo Tokenized) (MRNAON) by market capitalisation. Over the past 30 days, MRNAON is ahead by 53.9 percentage points (MRNAON +57.6% against STRCX +3.6%). Their daily returns move barely in opposite directions (correlation -0.23 across 39 shared trading days). MRNAON has been the more volatile of the two, at 85% annualised against STRCX's 51%.

Correlation: -0.23
Size ratio: 1 : 635.5
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%

Strategy PP Variable xStockSTRCX

$109.0500

24h: -0.49%
Market cap: $141.32M
Volume 24h: $604,227
Volatility (ann.): 51%

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

Performance

MRNAONSTRCX

7 days+14.97%+0.05%MRNAON
30 days+57.57%+3.64%MRNAON

Correlation

-0.23over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3790d: 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	STRCX
Max drawdown (400d)	-14.0%	-7.5%
Risk-adjusted return (90d)	0.88	0.16

Relative strength over 90 days: MRNAON outperformed STRCX by 63.3% — measured on the MRNAON/STRCX ratio, so it holds regardless of market direction.

Moderna (Ondo Tokenized) →Strategy PP Variable xStock →