MicroStrategy xStock (MSTRX) is 182.6× the size of DFDV xStock (DFDVX) by market capitalisation. Their daily returns move closely together (correlation 0.61 across 44 shared trading days). Both have run at a similar volatility, around 107% annualised.
DFDVXMSTRX
0.61over 44 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 | DFDVX | MSTRX |
|---|---|---|
| Max drawdown (400d) | -85.5% | -18.3% |
| Risk-adjusted return (90d) | 0.05 | 0.30 |
| Best 30 days (past year) | +111.8% | — |
| Worst 30 days (past year) | -56.6% | — |
Relative strength over 90 days: MSTRX outperformed DFDVX by 26.7% — measured on the DFDVX/MSTRX ratio, so it holds regardless of market direction.