MicroStrategy xStock (MSTRX) is 251.3× the size of Reddit (Ondo Tokenized Stock) (RDDTON) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.39 across 37 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against RDDTON's 72%.
$94.1200
RDDTONMSTRX
-0.39over 37 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 | RDDTON | MSTRX |
|---|---|---|
| Max drawdown (400d) | -53.3% | -18.3% |
| Risk-adjusted return (90d) | -0.05 | 0.30 |
Relative strength over 90 days: MSTRX outperformed RDDTON by 5.3% — measured on the RDDTON/MSTRX ratio, so it holds regardless of market direction.