Super Micro Computer (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 81.5× the size of Super Micro Computer (Ondo Tokenized Stock) (SMCION) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.18 across 35 shared trading days). SMCION has been the more volatile of the two, at 98% annualised against STRCX's 51%.

Correlation: -0.18
Size ratio: 1 : 81.5

Super Micro Computer (Ondo Tokenized Stock)SMCION

$33.1500

24h: +6.78%
Market cap: $1.75M
Volume 24h: $616,448
Volatility (ann.): 98%

Strategy PP Variable xStockSTRCX

$109.8100

24h: +2.70%
Market cap: $142.28M
Volume 24h: $551,427
Volatility (ann.): 51%

SMCION 1.2%Share of the two combined market caps98.8% STRCX

Performance

SMCIONSTRCX

7 days+2.56%+5.41%STRCX
30 days+14.32%+3.05%SMCION
90 days+44.35%——

Correlation

-0.18over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1990d: 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	SMCION	STRCX
Max drawdown (400d)	-51.3%	-7.5%
Risk-adjusted return (90d)	0.49	0.16

Relative strength over 90 days: SMCION outperformed STRCX by 5.0% — measured on the SMCION/STRCX ratio, so it holds regardless of market direction.

Super Micro Computer (Ondo Tokenized Stock) →Strategy PP Variable xStock →