MicroStrategy xStock (MSTRX) is 305.8× the size of Oklo (Ondo Tokenized) (OKLOON) by market capitalisation. Their daily returns move barely together (correlation 0.32 across 36 shared trading days). Both have run at a similar volatility, around 99% annualised.
$22.8600
OKLOONMSTRX
0.32over 36 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 | OKLOON | MSTRX |
|---|---|---|
| Max drawdown (400d) | -72.3% | -18.3% |
| Risk-adjusted return (90d) | -0.48 | 0.30 |
Relative strength over 90 days: MSTRX outperformed OKLOON by 55.7% — measured on the OKLOON/MSTRX ratio, so it holds regardless of market direction.