SPDR Gold Shares (Ondo Tokenized) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 14.8× the size of SPDR Gold Shares (Ondo Tokenized) (GLDON) by market capitalisation. Over the past 90 days, STRCON is ahead by 15.5 percentage points (GLDON +3.4% against STRCON +18.9%). Their daily returns move barely together (correlation 0.22 across 91 shared trading days). GLDON has been the more volatile of the two, at 30% annualised against STRCON's 20%.

Correlation: 0.22
Size ratio: 1 : 14.8
Ahead over 90 days: STRCON

SPDR Gold Shares (Ondo Tokenized)GLDON

$362.8400

24h: +0.62%
Market cap: $3.59M
Volume 24h: $1.23M
Volatility (ann.): 30%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.5100

24h: -0.32%
Market cap: $52.94M
Volume 24h: $1.14M
Volatility (ann.): 20%

GLDON 6.3%Share of the two combined market caps93.7% STRCON

Performance

GLDONSTRCON

7 days-4.83%+0.80%STRCON
30 days-6.81%+3.71%STRCON
90 days+3.45%+18.91%STRCON

Correlation

0.22over 91 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2390d: 0.221y: 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	GLDON	STRCON
Max drawdown (400d)	-25.3%	-4.3%
Risk-adjusted return (90d)	0.13	1.13

Relative strength over 90 days: STRCON outperformed GLDON by 13.9% — measured on the GLDON/STRCON ratio, so it holds regardless of market direction.

SPDR Gold Shares (Ondo Tokenized) →Strategy Stretch Preferred (Ondo Tokenized) →