Chevron xStock vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 163.1× the size of Chevron xStock (CVXX) by market capitalisation. Over the past 30 days, MSTRX is ahead by 3.4 percentage points (CVXX +1.3% against MSTRX +4.7%). Their daily returns move barely in opposite directions (correlation -0.32 across 23 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against CVXX's 42%.

Correlation: -0.32
Size ratio: 1 : 163.1
Ahead over 30 days: MSTRX

Chevron xStockCVXX

$225.8200

24h: -1.81%
Market cap: $840,586
Volume 24h: $2,025
Volatility (ann.): 42%

MicroStrategy xStockMSTRX

$143.4100

24h: +4.90%
Market cap: $137.10M
Volume 24h: $3.81M
Volatility (ann.): 101%

CVXX 0.6%Share of the two combined market caps99.4% MSTRX

Performance

CVXXMSTRX

7 days+0.31%-3.45%CVXX
30 days+1.33%+4.70%MSTRX

Correlation

-0.32over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	CVXX	MSTRX
Max drawdown (400d)	-7.4%	-18.3%
Risk-adjusted return (90d)	0.03	0.30

Relative strength over 90 days: MSTRX outperformed CVXX by 13.1% — measured on the CVXX/MSTRX ratio, so it holds regardless of market direction.

Chevron xStock →MicroStrategy xStock →