MicroStrategy xStock (MSTRX) is 63.1× the size of Credo Technology (bStocks Tokenized Stock) (CRDOB) by market capitalisation. Their daily returns move loosely together (correlation 0.46 across 55 shared trading days). Both have run at a similar volatility, around 99% annualised.
$144.0300
CRDOBMSTRX
0.46over 55 shared trading days
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.
| Metric | CRDOB | MSTRX |
|---|---|---|
| Max drawdown (400d) | -50.2% | -18.3% |
| Risk-adjusted return (90d) | -0.33 | 0.30 |
Relative strength over 90 days: MSTRX outperformed CRDOB by 51.0% — measured on the CRDOB/MSTRX ratio, so it holds regardless of market direction.