S&P Global (Ondo Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 128.4× the size of S&P Global (Ondo Tokenized Stock) (SPGION) by market capitalisation. Over the past 30 days, SPGION is ahead by 1.9 percentage points (SPGION +6.6% against MSTRX +4.7%). Their daily returns move barely in opposite directions (correlation -0.11 across 30 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against SPGION's 53%.

Correlation: -0.11
Size ratio: 1 : 128.4
Ahead over 30 days: SPGION

S&P Global (Ondo Tokenized Stock)SPGION

$489.1500

24h: -1.72%
Market cap: $1.03M
Volume 24h: $1,257
Volatility (ann.): 53%

MicroStrategy xStockMSTRX

$139.8300

24h: +4.35%
Market cap: $132.83M
Volume 24h: $3.28M
Volatility (ann.): 101%

SPGION 0.8%Share of the two combined market caps99.2% MSTRX

Performance

SPGIONMSTRX

7 days+19.06%-3.45%SPGION
30 days+6.64%+4.70%SPGION

Correlation

-0.11over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1190d: 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	SPGION	MSTRX
Max drawdown (400d)	-12.9%	-18.3%
Risk-adjusted return (90d)	0.15	0.30

Relative strength over 90 days: SPGION outperformed MSTRX by 5.2% — measured on the SPGION/MSTRX ratio, so it holds regardless of market direction.

S&P Global (Ondo Tokenized Stock) →MicroStrategy xStock →