BitMine Immersion Technologies (bStocks Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 27.6× the size of BitMine Immersion Technologies (bStocks Tokenized Stock) (BMNRB) by market capitalisation. Their daily returns move closely together (correlation 0.74 across 55 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against BMNRB's 82%.

Correlation: 0.74
Size ratio: 1 : 27.6

BitMine Immersion Technologies (bStocks Tokenized Stock)BMNRB

$20.7900

24h: +0.00%
Market cap: $4.73M
Volume 24h: $1.23M
Volatility (ann.): 82%

MicroStrategy xStockMSTRX

$137.0300

24h: +5.08%
Market cap: $130.62M
Volume 24h: $2.73M
Volatility (ann.): 101%

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

Performance

BMNRBMSTRX

7 days-5.82%-3.45%MSTRX
30 days-24.33%+4.70%MSTRX
90 days+11.11%——

Correlation

0.74over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.7490d: 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	BMNRB	MSTRX
Max drawdown (400d)	-31.9%	-18.3%
Risk-adjusted return (90d)	0.14	0.30

Relative strength over 90 days: MSTRX outperformed BMNRB by 27.6% — measured on the BMNRB/MSTRX ratio, so it holds regardless of market direction.

BitMine Immersion Technologies (bStocks Tokenized Stock) →MicroStrategy xStock →