Bitmine xStock vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 30.2× the size of Bitmine xStock (BMNRX) by market capitalisation. Over the past 30 days, MSTRX is ahead by 36.2 percentage points (BMNRX -31.5% against MSTRX +4.7%). Their daily returns move loosely together (correlation 0.41 across 30 shared trading days). BMNRX has been the more volatile of the two, at 184% annualised against MSTRX's 101%.

Correlation: 0.41
Size ratio: 1 : 30.2
Ahead over 30 days: MSTRX

Bitmine xStockBMNRX

$20.5600

24h: +4.42%
Market cap: $4.28M
Volume 24h: $368
Volatility (ann.): 184%

MicroStrategy xStockMSTRX

$136.1400

24h: +3.31%
Market cap: $129.33M
Volume 24h: $2.91M
Volatility (ann.): 101%

BMNRX 3.2%Share of the two combined market caps96.8% MSTRX

Performance

BMNRXMSTRX

7 days-27.18%-3.45%MSTRX
30 days-31.51%+4.70%MSTRX

Correlation

0.41over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4190d: 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	BMNRX	MSTRX
Max drawdown (400d)	-35.0%	-18.3%
Risk-adjusted return (90d)	-0.15	0.30

Relative strength over 90 days: MSTRX outperformed BMNRX by 30.4% — measured on the BMNRX/MSTRX ratio, so it holds regardless of market direction.

Bitmine xStock →MicroStrategy xStock →