MicroStrategy xStock (MSTRX) is 48.2× the size of Palantir Technologies (Ondo Tokenized Stock) (PLTRON) by market capitalisation. Their daily returns move loosely together (correlation 0.50 across 44 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against PLTRON's 57%.
$169.5700
PLTRONMSTRX
0.50over 44 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 | PLTRON | MSTRX |
|---|---|---|
| Max drawdown (400d) | -46.3% | -18.3% |
| Risk-adjusted return (90d) | 0.59 | 0.30 |
| Best 30 days (past year) | +51.5% | — |
| Worst 30 days (past year) | -29.8% | — |
Relative strength over 90 days: MSTRX outperformed PLTRON by 24.7% — measured on the PLTRON/MSTRX ratio, so it holds regardless of market direction.