Strategy PP Variable xStock (STRCX) is 153.5× the size of Salesforce (Ondo Tokenized Stock) (CRMON) by market capitalisation. Their daily returns move barely together (correlation 0.13 across 38 shared trading days). Both have run at a similar volatility, around 49% annualised.
$221.6900
$109.4400
CRMONSTRCX
0.13over 38 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 | CRMON | STRCX |
|---|---|---|
| Max drawdown (400d) | -43.7% | -7.5% |
| Risk-adjusted return (90d) | 0.76 | 0.16 |
Relative strength over 90 days: CRMON outperformed STRCX by 13.1% — measured on the CRMON/STRCX ratio, so it holds regardless of market direction.