BlackBerry Limited • Robinhood Token vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 707.5× the size of BlackBerry Limited • Robinhood Token (BB) by market capitalisation. Over the past 30 days, MSTRX is ahead by 6.3 percentage points (BB +4.6% against MSTRX +10.9%). Their daily returns move barely together (correlation 0.10 across 30 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against BB's 62%.

Correlation: 0.10
Size ratio: 1 : 707.5
Ahead over 30 days: MSTRX

BlackBerry Limited • Robinhood TokenBB

$8.0300

24h: +0.02%
Market cap: $197,294
Volume 24h: $8,228
Volatility (ann.): 62%

MicroStrategy xStockMSTRX

$144.6100

24h: +7.91%
Market cap: $139.59M
Volume 24h: $4.25M
Volatility (ann.): 101%

BB 0.1%Share of the two combined market caps99.9% MSTRX

Performance

BBMSTRX

7 days-13.75%+0.26%MSTRX
30 days+4.62%+10.88%MSTRX

Correlation

0.10over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1090d: 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	BB	MSTRX
Max drawdown (400d)	-13.8%	-18.3%
Risk-adjusted return (90d)	0.05	0.38

Relative strength over 90 days: MSTRX outperformed BB by 10.5% — measured on the BB/MSTRX ratio, so it holds regardless of market direction.

BlackBerry Limited • Robinhood Token →MicroStrategy xStock →