Applied Materials (bStocks Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 54.4× the size of Applied Materials (bStocks Tokenized Stock) (AMATB) by market capitalisation. Their daily returns move barely together (correlation 0.34 across 55 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against AMATB's 58%.

Correlation: 0.34
Size ratio: 1 : 54.4

Applied Materials (bStocks Tokenized Stock)AMATB

$375.6600

24h: -0.45%
Market cap: $2.38M
Volume 24h: $123,962
Volatility (ann.): 58%

MicroStrategy xStockMSTRX

$135.5500

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

AMATB 1.8%Share of the two combined market caps98.2% MSTRX

Performance

AMATBMSTRX

7 days-3.87%-3.45%MSTRX
30 days-29.37%+4.70%MSTRX
90 days-28.33%——

Correlation

0.34over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5290d: 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	AMATB	MSTRX
Max drawdown (400d)	-32.0%	-18.3%
Risk-adjusted return (90d)	-0.57	0.30

Relative strength over 90 days: MSTRX outperformed AMATB by 41.5% — measured on the AMATB/MSTRX ratio, so it holds regardless of market direction.

Applied Materials (bStocks Tokenized Stock) →MicroStrategy xStock →