Moderna (Backpack Securities) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 1180.1× the size of Moderna (Backpack Securities) (MRNA) by market capitalisation. Over the past 30 days, MRNA is ahead by 70.8 percentage points (MRNA +81.7% against MSTRX +10.9%). Their daily returns move closely together (correlation 0.60 across 30 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against MRNA's 79%.

Correlation: 0.60
Size ratio: 1 : 1180.1
Ahead over 30 days: MRNA

Moderna (Backpack Securities)MRNA

$259.0100

24h: +15.25%
Market cap: $104,993
Volume 24h: $74,507
Volatility (ann.): 79%

MicroStrategy xStockMSTRX

$128.0700

24h: -11.32%
Market cap: $123.90M
Volume 24h: $4.89M
Volatility (ann.): 101%

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

Performance

MRNAMSTRX

7 days+15.65%+0.26%MRNA
30 days+81.69%+10.88%MRNA

Correlation

0.60over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6090d: 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	MRNA	MSTRX
Max drawdown (400d)	-11.7%	-18.3%
Risk-adjusted return (90d)	0.77	0.38

Relative strength over 90 days: MRNA outperformed MSTRX by 39.0% — measured on the MRNA/MSTRX ratio, so it holds regardless of market direction.

Moderna (Backpack Securities) →MicroStrategy xStock →