Nebius Group (Ondo Tokenized) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 39.3× the size of Nebius Group (Ondo Tokenized) (NBISON) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 43 shared trading days). NBISON has been the more volatile of the two, at 129% annualised against STRCX's 51%.

Correlation: 0.07
Size ratio: 1 : 39.3

Nebius Group (Ondo Tokenized)NBISON

$146.3500

24h: +1.65%
Market cap: $3.62M
Volume 24h: $1.35M
Volatility (ann.): 129%

Strategy PP Variable xStockSTRCX

$109.8100

24h: +2.70%
Market cap: $142.28M
Volume 24h: $551,427
Volatility (ann.): 51%

NBISON 2.5%Share of the two combined market caps97.5% STRCX

Performance

NBISONSTRCX

7 days-4.49%+5.41%STRCX
30 days-33.20%+3.05%STRCX
90 days-31.07%——

Correlation

0.07over 43 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0490d: 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	NBISON	STRCX
Max drawdown (400d)	-49.2%	-7.5%
Risk-adjusted return (90d)	-0.22	0.16

Relative strength over 90 days: STRCX outperformed NBISON by 49.0% — measured on the NBISON/STRCX ratio, so it holds regardless of market direction.

Nebius Group (Ondo Tokenized) →Strategy PP Variable xStock →