Strategy PP Variable xStock vs Circle Internet Group (Ondo Tokenized Stock)

Strategy PP Variable xStock (STRCX) is 1.6× the size of Circle Internet Group (Ondo Tokenized Stock) (CRCLON) by market capitalisation. Over the past 30 days, STRCX is ahead by 19.5 percentage points (STRCX +3.6% against CRCLON -15.9%). Their daily returns move barely together (correlation 0.13 across 56 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against STRCX's 51%.

Correlation: 0.13
Size ratio: 1.6×
Ahead over 30 days: STRCX

Strategy PP Variable xStockSTRCX

$109.7900

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

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.1600

24h: +0.53%
Market cap: $88.48M
Volume 24h: $1.60M
Volatility (ann.): 97%

STRCX 61.7%Share of the two combined market caps38.3% CRCLON

Performance

STRCXCRCLON

7 days+0.05%-5.63%STRCX
30 days+3.64%-15.88%STRCX

Correlation

0.13over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0490d: 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	STRCX	CRCLON
Max drawdown (400d)	-7.5%	-30.7%
Risk-adjusted return (90d)	0.16	0.06

Relative strength over 90 days: STRCX outperformed CRCLON by 2.5% — measured on the STRCX/CRCLON ratio, so it holds regardless of market direction.

Strategy PP Variable xStock →Circle Internet Group (Ondo Tokenized Stock) →