Alphabet (Coinbase Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 14.3× the size of Alphabet (Coinbase Tokenized Stock) (GOOGLC) by market capitalisation. Over the past 30 days, MSTRX is ahead by 22.1 percentage points (GOOGLC -17.4% against MSTRX +4.7%). Their daily returns move loosely together (correlation 0.39 across 33 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against GOOGLC's 42%.

Correlation: 0.39
Size ratio: 1 : 14.3
Ahead over 30 days: MSTRX

Alphabet (Coinbase Tokenized Stock)GOOGLC

$276.0900

24h: -1.58%
Market cap: $9.05M
Volume 24h: $9.27M
Volatility (ann.): 42%

MicroStrategy xStockMSTRX

$135.5500

24h: +2.69%
Market cap: $129.31M
Volume 24h: $2.93M
Volatility (ann.): 101%

GOOGLC 6.5%Share of the two combined market caps93.5% MSTRX

Performance

GOOGLCMSTRX

7 days-13.06%-3.45%MSTRX
30 days-17.41%+4.70%MSTRX

Correlation

0.39over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3990d: 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	GOOGLC	MSTRX
Max drawdown (400d)	-21.4%	-18.3%
Risk-adjusted return (90d)	-0.46	0.30

Relative strength over 90 days: MSTRX outperformed GOOGLC by 22.5% — measured on the GOOGLC/MSTRX ratio, so it holds regardless of market direction.

Alphabet (Coinbase Tokenized Stock) →MicroStrategy xStock →