Amazon (Coinbase Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 48.8× the size of Amazon (Coinbase Tokenized Stock) (AMZNC) by market capitalisation. Over the past 30 days, MSTRX is ahead by 5.3 percentage points (AMZNC -0.6% against MSTRX +4.7%). Their daily returns move barely together (correlation 0.31 across 20 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against AMZNC's 45%.

Correlation: 0.31
Size ratio: 1 : 48.8
Ahead over 30 days: MSTRX

Amazon (Coinbase Tokenized Stock)AMZNC

$246.7300

24h: +0.27%
Market cap: $2.84M
Volume 24h: $8.72M
Volatility (ann.): 45%

MicroStrategy xStockMSTRX

$143.7700

24h: +6.83%
Market cap: $138.71M
Volume 24h: $4.24M
Volatility (ann.): 101%

AMZNC 2.0%Share of the two combined market caps98.0% MSTRX

Performance

AMZNCMSTRX

7 days-0.95%-3.45%AMZNC
30 days-0.56%+4.70%MSTRX

Correlation

0.31over 20 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	AMZNC	MSTRX
Max drawdown (400d)	-12.4%	-18.3%
Risk-adjusted return (90d)	0.01	0.30

Relative strength over 90 days: AMZNC outperformed MSTRX by 7.8% — measured on the AMZNC/MSTRX ratio, so it holds regardless of market direction.

Amazon (Coinbase Tokenized Stock) →MicroStrategy xStock →