IREN Limited • Robinhood Token vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 684.7× the size of IREN Limited • Robinhood Token (IREN) by market capitalisation. Over the past 30 days, MSTRX is ahead by 48.7 percentage points (IREN -55.4% against MSTRX -6.7%). Their daily returns move closely together (correlation 0.63 across 22 shared trading days). Both have run at a similar volatility, around 107% annualised.

Correlation: 0.63
Size ratio: 1 : 684.7
Ahead over 30 days: MSTRX

IREN Limited • Robinhood TokenIREN

$20.5200

24h: -3.65%
Market cap: $187,049
Volume 24h: $76,755
Volatility (ann.): 109%

MicroStrategy xStockMSTRX

$131.3400

24h: -8.42%
Market cap: $128.07M
Volume 24h: $5.56M
Volatility (ann.): 105%

IREN 0.1%Share of the two combined market caps99.9% MSTRX

Performance

IRENMSTRX

7 days-27.10%-5.57%MSTRX
30 days-55.39%-6.73%MSTRX

Correlation

0.63over 22 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	IREN	MSTRX
Max drawdown (400d)	-55.6%	-20.7%
Risk-adjusted return (90d)	-0.50	0.21

Relative strength over 90 days: MSTRX outperformed IREN by 29.1% — measured on the IREN/MSTRX ratio, so it holds regardless of market direction.

IREN Limited • Robinhood Token →MicroStrategy xStock →