Applied Optoelectronics (bStocks Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 27.7× the size of Applied Optoelectronics (bStocks Tokenized Stock) (AAOIB) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 56 shared trading days). AAOIB has been the more volatile of the two, at 128% annualised against MSTRX's 101%.

Correlation: 0.07
Size ratio: 1 : 27.7

Applied Optoelectronics (bStocks Tokenized Stock)AAOIB

$48.0400

24h: -0.98%
Market cap: $4.49M
Volume 24h: $1.65M
Volatility (ann.): 128%

MicroStrategy xStockMSTRX

$128.6000

24h: -11.08%
Market cap: $124.41M
Volume 24h: $4.29M
Volatility (ann.): 101%

AAOIB 3.5%Share of the two combined market caps96.5% MSTRX

Performance

AAOIBMSTRX

7 days-26.52%+0.26%MSTRX
30 days-51.06%+10.88%MSTRX
90 days-51.98%——

Correlation

0.07over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2290d: 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	AAOIB	MSTRX
Max drawdown (400d)	-61.7%	-18.3%
Risk-adjusted return (90d)	-0.50	0.38

Relative strength over 90 days: MSTRX outperformed AAOIB by 65.9% — measured on the AAOIB/MSTRX ratio, so it holds regardless of market direction.

Applied Optoelectronics (bStocks Tokenized Stock) →MicroStrategy xStock →