Riot Platforms (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 378.1× the size of Riot Platforms (Ondo Tokenized Stock) (RIOTON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.09 across 39 shared trading days). RIOTON has been the more volatile of the two, at 101% annualised against STRCX's 51%.

Correlation: -0.09
Size ratio: 1 : 378.1

Riot Platforms (Ondo Tokenized Stock)RIOTON

$15.5400

24h: +14.26%
Market cap: $376,395
Volume 24h: $175,797
Volatility (ann.): 101%

Strategy PP Variable xStockSTRCX

$109.7900

24h: +0.10%
Market cap: $142.30M
Volume 24h: $497,156
Volatility (ann.): 51%

RIOTON 0.3%Share of the two combined market caps99.7% STRCX

Performance

RIOTONSTRCX

7 days-33.15%+0.05%STRCX
30 days-17.53%+3.64%STRCX
90 days-30.57%——
1 year-1.38%——

Correlation

-0.09over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1490d: 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	RIOTON	STRCX
Max drawdown (400d)	-50.6%	-7.5%
Risk-adjusted return (90d)	-0.24	0.16

Relative strength over 90 days: STRCX outperformed RIOTON by 29.8% — measured on the RIOTON/STRCX ratio, so it holds regardless of market direction.

Riot Platforms (Ondo Tokenized Stock) →Strategy PP Variable xStock →