MicroStrategy xStock (MSTRX) is 96.1× the size of Rocket Lab (Ondo Tokenized) (RKLBON) by market capitalisation. Their daily returns move loosely together (correlation 0.45 across 35 shared trading days). Both have run at a similar volatility, around 102% annualised.
$52.8500
RKLBONMSTRX
0.45over 35 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 | RKLBON | MSTRX |
|---|---|---|
| Max drawdown (400d) | -60.7% | -18.3% |
| Risk-adjusted return (90d) | -0.33 | 0.30 |
Relative strength over 90 days: MSTRX outperformed RKLBON by 37.1% — measured on the RKLBON/MSTRX ratio, so it holds regardless of market direction.