MicroStrategy xStock (MSTRX) is 21.8× the size of GameStop (bStocks Tokenized Stock) (GMEB) by market capitalisation. Their daily returns move barely together (correlation 0.09 across 56 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against GMEB's 43%.
$25.1800
GMEBMSTRX
0.09over 56 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 | GMEB | MSTRX |
|---|---|---|
| Max drawdown (400d) | -16.3% | -18.3% |
| Risk-adjusted return (90d) | 0.82 | 0.38 |
Relative strength over 90 days: GMEB outperformed MSTRX by 0.0% — measured on the GMEB/MSTRX ratio, so it holds regardless of market direction.