Novo Nordisk xStock vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 264.4× the size of Novo Nordisk xStock (NVOX) by market capitalisation. Over the past 30 days, MSTRX is ahead by 36.8 percentage points (NVOX -32.1% against MSTRX +4.7%). Their daily returns move barely in opposite directions (correlation -0.24 across 24 shared trading days). NVOX has been the more volatile of the two, at 117% annualised against MSTRX's 101%.

Correlation: -0.24
Size ratio: 1 : 264.4
Ahead over 30 days: MSTRX

Novo Nordisk xStockNVOX

$40.1000

24h: -1.20%
Market cap: $501,794
Volume 24h: $356
Volatility (ann.): 117%

MicroStrategy xStockMSTRX

$139.6400

24h: +3.92%
Market cap: $132.66M
Volume 24h: $3.52M
Volatility (ann.): 101%

NVOX 0.4%Share of the two combined market caps99.6% MSTRX

Performance

NVOXMSTRX

7 days+5.15%-3.45%NVOX
30 days-32.10%+4.70%MSTRX

Correlation

-0.24over 24 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	NVOX	MSTRX
Max drawdown (400d)	-36.9%	-18.3%
Risk-adjusted return (90d)	-0.14	0.30

Relative strength over 90 days: MSTRX outperformed NVOX by 11.5% — measured on the NVOX/MSTRX ratio, so it holds regardless of market direction.

Novo Nordisk xStock →MicroStrategy xStock →