USA Rare Earth (Ondo Tokenized) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 1965.5× the size of USA Rare Earth (Ondo Tokenized) (USARON) by market capitalisation. Over the past 30 days, MSTRX is ahead by 29.4 percentage points (USARON -18.5% against MSTRX +10.9%). Their daily returns move barely together (correlation 0.16 across 35 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against USARON's 84%.

Correlation: 0.16
Size ratio: 1 : 1965.5
Ahead over 30 days: MSTRX

USA Rare Earth (Ondo Tokenized)USARON

$8.1500

24h: -5.07%
Market cap: $64,507
Volume 24h: $142,195
Volatility (ann.): 84%

MicroStrategy xStockMSTRX

$131.0000

24h: -9.56%
Market cap: $126.79M
Volume 24h: $3.18M
Volatility (ann.): 101%

USARON 0.1%Share of the two combined market caps99.9% MSTRX

Performance

USARONMSTRX

7 days-13.40%+0.26%MSTRX
30 days-18.48%+10.88%MSTRX

Correlation

0.16over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1790d: 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	USARON	MSTRX
Max drawdown (400d)	-27.0%	-18.3%
Risk-adjusted return (90d)	-0.19	0.38

Relative strength over 90 days: MSTRX outperformed USARON by 46.5% — measured on the USARON/MSTRX ratio, so it holds regardless of market direction.

USA Rare Earth (Ondo Tokenized) →MicroStrategy xStock →