UnitedHealth (Ondo Tokenized Stock) vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 109.9× the size of UnitedHealth (Ondo Tokenized Stock) (UNHON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.01 across 35 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against UNHON's 35%.

Correlation: -0.01
Size ratio: 1 : 109.9

UnitedHealth (Ondo Tokenized Stock)UNHON

$410.2800

24h: +1.81%
Market cap: $1.29M
Volume 24h: $577,913
Volatility (ann.): 35%

Strategy PP Variable xStockSTRCX

$109.6000

24h: +2.52%
Market cap: $142.02M
Volume 24h: $554,637
Volatility (ann.): 51%

UNHON 0.9%Share of the two combined market caps99.1% STRCX

Performance

UNHONSTRCX

7 days+1.48%+5.41%STRCX
30 days-3.46%+3.05%STRCX
90 days-10.86%——
1 year+10.61%——

Correlation

-0.01over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0190d: 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	UNHON	STRCX
Max drawdown (400d)	-29.9%	-7.5%
Risk-adjusted return (90d)	-0.50	0.16

Relative strength over 90 days: STRCX outperformed UNHON by 9.5% — measured on the UNHON/STRCX ratio, so it holds regardless of market direction.

UnitedHealth (Ondo Tokenized Stock) →Strategy PP Variable xStock →