ON Semiconductor Corporation • Robinhood Token vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 4059.0× the size of ON Semiconductor Corporation • Robinhood Token (ON) by market capitalisation. Over the past 30 days, MSTRX is ahead by 26.2 percentage points (ON -15.3% against MSTRX +10.9%). Their daily returns move loosely together (correlation 0.47 across 20 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against ON's 45%.

Correlation: 0.47
Size ratio: 1 : 4059.0
Ahead over 30 days: MSTRX

ON Semiconductor Corporation • Robinhood TokenON

$71.3000

24h: +2.29%
Market cap: $33,407
Volume 24h: $5,665
Volatility (ann.): 45%

MicroStrategy xStockMSTRX

$140.4100

24h: +3.16%
Market cap: $135.60M
Volume 24h: $3.45M
Volatility (ann.): 101%

ON 0.0%Share of the two combined market caps100.0% MSTRX

Performance

ONMSTRX

7 days-8.52%+0.26%MSTRX
30 days-15.33%+10.88%MSTRX

Correlation

0.47over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	ON	MSTRX
Max drawdown (400d)	-18.2%	-18.3%
Risk-adjusted return (90d)	-0.40	0.38

Relative strength over 90 days: MSTRX outperformed ON by 1.9% — measured on the ON/MSTRX ratio, so it holds regardless of market direction.

ON Semiconductor Corporation • Robinhood Token →MicroStrategy xStock →