PepsiCo (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 62.9× the size of PepsiCo (Ondo Tokenized Stock) (PEPON) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 35 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against PEPON's 22%.

Correlation: 0.07
Size ratio: 1 : 62.9

PepsiCo (Ondo Tokenized Stock)PEPON

$143.0600

24h: +4.01%
Market cap: $2.26M
Volume 24h: $141,370
Volatility (ann.): 22%

Strategy PP Variable xStockSTRCX

$109.5600

24h: +0.19%
Market cap: $142.00M
Volume 24h: $404,179
Volatility (ann.): 51%

PEPON 1.6%Share of the two combined market caps98.4% STRCX

Performance

PEPONSTRCX

7 days-2.04%+0.05%STRCX
30 days-8.53%+3.64%STRCX
90 days-8.20%——
1 year-7.39%——

Correlation

0.07over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0790d: 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	PEPON	STRCX
Max drawdown (400d)	-23.4%	-7.5%
Risk-adjusted return (90d)	-0.37	0.16

Relative strength over 90 days: STRCX outperformed PEPON by 12.2% — measured on the PEPON/STRCX ratio, so it holds regardless of market direction.

PepsiCo (Ondo Tokenized Stock) →Strategy PP Variable xStock →