MSTR2100 vs SPX6900

SPX6900 (SPX) is 875.5× the size of MSTR2100 (MSTR) by market capitalisation. Over the past 30 days, MSTR is ahead by 9.6 percentage points (MSTR -14.7% against SPX -24.3%). Their daily returns move barely together (correlation 0.24 across 26 shared trading days). SPX has been the more volatile of the two, at 113% annualised against MSTR's 83%.

Correlation: 0.24
Size ratio: 1 : 875.5
Ahead over 30 days: MSTR

MSTR2100MSTR

$0.019918

24h: +0.78%
Market cap: $411,217
Volume 24h: $57,707
Volatility (ann.): 83%

SPX6900SPX

$0.386643

24h: +7.67%
Market cap: $360.04M
Volume 24h: $8.43M
Volatility (ann.): 113%

MSTR 0.1%Share of the two combined market caps99.9% SPX

Performance

MSTRSPX

7 days-19.81%-3.77%SPX
30 days-14.67%-24.31%MSTR

Correlation

0.24over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2490d: 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	MSTR	SPX
Max drawdown (400d)	-24.2%	-42.9%
Risk-adjusted return (90d)	-0.22	0.14

Relative strength over 90 days: MSTR outperformed SPX by 24.6% — measured on the MSTR/SPX ratio, so it holds regardless of market direction.

MSTR2100 →SPX6900 →