Coinbase Global Inc ST0x vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 450.9× the size of Coinbase Global Inc ST0x (WTCOIN) by market capitalisation. Over the past 30 days, MSTRX is ahead by 24.7 percentage points (WTCOIN -13.8% against MSTRX +10.9%). Their daily returns move closely together (correlation 0.61 across 30 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against WTCOIN's 87%.

Correlation: 0.61
Size ratio: 1 : 450.9
Ahead over 30 days: MSTRX

Coinbase Global Inc ST0xWTCOIN

$152.0100

24h: +6.63%
Market cap: $308,445
Volume 24h: $117,461
Volatility (ann.): 87%

MicroStrategy xStockMSTRX

$144.0300

24h: +4.99%
Market cap: $139.08M
Volume 24h: $3.68M
Volatility (ann.): 101%

WTCOIN 0.2%Share of the two combined market caps99.8% MSTRX

Performance

WTCOINMSTRX

7 days-5.46%+0.26%MSTRX
30 days-13.79%+10.88%MSTRX

Correlation

0.61over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6190d: 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	WTCOIN	MSTRX
Max drawdown (400d)	-31.2%	-18.3%
Risk-adjusted return (90d)	-0.16	0.38

Relative strength over 90 days: MSTRX outperformed WTCOIN by 25.8% — measured on the WTCOIN/MSTRX ratio, so it holds regardless of market direction.

Coinbase Global Inc ST0x →MicroStrategy xStock →