Circle Internet Group • Robinhood Token vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 12.3× the size of Circle Internet Group • Robinhood Token (CRCL) by market capitalisation. Over the past 30 days, MSTRX is ahead by 26.6 percentage points (CRCL -21.9% against MSTRX +4.7%). Their daily returns move loosely together (correlation 0.55 across 35 shared trading days). Both have run at a similar volatility, around 97% annualised.

Correlation: 0.55
Size ratio: 1 : 12.3
Ahead over 30 days: MSTRX

Circle Internet Group • Robinhood TokenCRCL

$73.9200

24h: +2.48%
Market cap: $10.61M
Volume 24h: $2.13M
Volatility (ann.): 93%

MicroStrategy xStockMSTRX

$137.1000

24h: +6.08%
Market cap: $130.64M
Volume 24h: $2.72M
Volatility (ann.): 101%

CRCL 7.5%Share of the two combined market caps92.5% MSTRX

Performance

CRCLMSTRX

7 days-6.97%-3.45%MSTRX
30 days-21.88%+4.70%MSTRX

Correlation

0.55over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5490d: 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	CRCL	MSTRX
Max drawdown (400d)	-30.8%	-18.3%
Risk-adjusted return (90d)	-0.15	0.30

Relative strength over 90 days: MSTRX outperformed CRCL by 18.6% — measured on the CRCL/MSTRX ratio, so it holds regardless of market direction.

Circle Internet Group • Robinhood Token →MicroStrategy xStock →