International Business Machines xStock vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 118.6× the size of International Business Machines xStock (IBMX) by market capitalisation. Over the past 30 days, MSTRX is ahead by 10.4 percentage points (IBMX -5.7% against MSTRX +4.7%). Their daily returns move barely in opposite directions (correlation -0.11 across 20 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against IBMX's 58%.

Correlation: -0.11
Size ratio: 1 : 118.6
Ahead over 30 days: MSTRX

International Business Machines xStockIBMX

$249.5800

24h: -0.85%
Market cap: $1.10M
Volume 24h: $8,632
Volatility (ann.): 58%

MicroStrategy xStockMSTRX

$137.1000

24h: +6.08%
Market cap: $130.64M
Volume 24h: $2.72M
Volatility (ann.): 101%

IBMX 0.8%Share of the two combined market caps99.2% MSTRX

Performance

IBMXMSTRX

7 days-7.13%-3.45%MSTRX
30 days-5.70%+4.70%MSTRX

Correlation

-0.11over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	IBMX	MSTRX
Max drawdown (400d)	-13.5%	-18.3%
Risk-adjusted return (90d)	-0.10	0.30

Relative strength over 90 days: MSTRX outperformed IBMX by 7.3% — measured on the IBMX/MSTRX ratio, so it holds regardless of market direction.

International Business Machines xStock →MicroStrategy xStock →