Coinbase • Robinhood Token vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 44.5× the size of Coinbase • Robinhood Token (COIN) by market capitalisation. Over the past 30 days, MSTRX is ahead by 25.8 percentage points (COIN -21.1% against MSTRX +4.7%). Their daily returns move closely together (correlation 0.61 across 32 shared trading days). Both have run at a similar volatility, around 101% annualised.

Correlation: 0.61
Size ratio: 1 : 44.5
Ahead over 30 days: MSTRX

Coinbase • Robinhood TokenCOIN

$142.5400

24h: +3.24%
Market cap: $3.11M
Volume 24h: $1.05M
Volatility (ann.): 100%

MicroStrategy xStockMSTRX

$144.9100

24h: +5.36%
Market cap: $138.36M
Volume 24h: $3.84M
Volatility (ann.): 101%

COIN 2.2%Share of the two combined market caps97.8% MSTRX

Performance

COINMSTRX

7 days-7.71%-3.45%MSTRX
30 days-21.13%+4.70%MSTRX

Correlation

0.61over 32 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	COIN	MSTRX
Max drawdown (400d)	-31.0%	-18.3%
Risk-adjusted return (90d)	-0.19	0.30

Relative strength over 90 days: MSTRX outperformed COIN by 22.3% — measured on the COIN/MSTRX ratio, so it holds regardless of market direction.

Coinbase • Robinhood Token →MicroStrategy xStock →