Redwire (Ondo Tokenized) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 579.5× the size of Redwire (Ondo Tokenized) (RDWON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.16 across 35 shared trading days). RDWON has been the more volatile of the two, at 137% annualised against STRCX's 51%.

Correlation: -0.16
Size ratio: 1 : 579.5

Redwire (Ondo Tokenized)RDWON

$7.9100

24h: -0.89%
Market cap: $254,288
Volume 24h: $440,957
Volatility (ann.): 137%

Strategy PP Variable xStockSTRCX

$109.4400

24h: +0.45%
Market cap: $147.36M
Volume 24h: $592,243
Volatility (ann.): 51%

RDWON 0.2%Share of the two combined market caps99.8% STRCX

Performance

RDWONSTRCX

7 days-2.27%+5.41%STRCX
30 days+3.44%+3.05%RDWON
90 days-7.31%——

Correlation

-0.16over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2090d: 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	RDWON	STRCX
Max drawdown (400d)	-69.1%	-7.5%
Risk-adjusted return (90d)	-0.08	0.16

Relative strength over 90 days: STRCX outperformed RDWON by 20.4% — measured on the RDWON/STRCX ratio, so it holds regardless of market direction.

Redwire (Ondo Tokenized) →Strategy PP Variable xStock →