US Copper Index Fund (Ondo Tokenized) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 478.3× the size of US Copper Index Fund (Ondo Tokenized) (CPERON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.08 across 24 shared trading days). CPERON has been the more volatile of the two, at 249% annualised against STRCON's 20%.

Correlation: -0.08
Size ratio: 1 : 478.3

US Copper Index Fund (Ondo Tokenized)CPERON

$39.7400

24h: —
Market cap: $111,430
Volume 24h: $66
Volatility (ann.): 249%

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.8200

24h: +0.21%
Market cap: $53.30M
Volume 24h: $471,004
Volatility (ann.): 20%

CPERON 0.2%Share of the two combined market caps99.8% STRCON

Performance

CPERONSTRCON

7 days+10.70%+0.56%CPERON
30 days+2.96%+4.00%STRCON
90 days—+18.88%—

Correlation

-0.08over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	CPERON	STRCON
Max drawdown (400d)	-44.9%	-4.3%
Risk-adjusted return (90d)	0.01	1.13

Relative strength over 90 days: STRCON outperformed CPERON by 2.0% — measured on the CPERON/STRCON ratio, so it holds regardless of market direction.

US Copper Index Fund (Ondo Tokenized) →Strategy Stretch Preferred (Ondo Tokenized) →