Nike (ST0x Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 3188.9× the size of Nike (ST0x Tokenized Stock) (WTNKE) by market capitalisation. Over the past 30 days, WTNKE is ahead by 20.9 percentage points (WTNKE +14.1% against MSTRX -6.7%). Their daily returns move barely together (correlation 0.09 across 22 shared trading days). MSTRX has been the more volatile of the two, at 105% annualised against WTNKE's 34%.

Correlation: 0.09
Size ratio: 1 : 3188.9
Ahead over 30 days: WTNKE

Nike (ST0x Tokenized Stock)WTNKE

$40.2300

24h: +4.97%
Market cap: $39,624
Volume 24h: $5,190
Volatility (ann.): 34%

MicroStrategy xStockMSTRX

$129.7600

24h: -9.91%
Market cap: $126.36M
Volume 24h: $5.32M
Volatility (ann.): 105%

WTNKE 0.0%Share of the two combined market caps100.0% MSTRX

Performance

WTNKEMSTRX

7 days+2.48%-5.57%WTNKE
30 days+14.14%-6.73%WTNKE

Correlation

0.09over 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	WTNKE	MSTRX
Max drawdown (400d)	-2.9%	-20.7%
Risk-adjusted return (90d)	0.50	0.21

Relative strength over 90 days: WTNKE outperformed MSTRX by 23.2% — measured on the WTNKE/MSTRX ratio, so it holds regardless of market direction.

Nike (ST0x Tokenized Stock) →MicroStrategy xStock →