Procter & Gamble (Ondo Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 44.5× the size of Procter & Gamble (Ondo Tokenized Stock) (PGON) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.41 across 37 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against PGON's 24%.

Correlation: -0.41
Size ratio: 1 : 44.5

Procter & Gamble (Ondo Tokenized Stock)PGON

$168.7000

24h: +3.79%
Market cap: $3.04M
Volume 24h: $125,725
Volatility (ann.): 24%

MicroStrategy xStockMSTRX

$139.8000

24h: +2.94%
Market cap: $135.01M
Volume 24h: $3.42M
Volatility (ann.): 101%

PGON 2.2%Share of the two combined market caps97.8% MSTRX

Performance

PGONMSTRX

7 days+11.47%+0.26%PGON
30 days+11.35%+10.88%PGON
90 days+8.35%——
1 year+18.47%——

Correlation

-0.41over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4290d: 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	PGON	MSTRX
Max drawdown (400d)	-15.6%	-18.3%
Risk-adjusted return (90d)	0.29	0.38

Relative strength over 90 days: MSTRX outperformed PGON by 11.2% — measured on the PGON/MSTRX ratio, so it holds regardless of market direction.

Procter & Gamble (Ondo Tokenized Stock) →MicroStrategy xStock →