Penguin Solutions • Robinhood Token vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 1846.2× the size of Penguin Solutions • Robinhood Token (PENG) by market capitalisation. Over the past 30 days, MSTRX is ahead by 31.0 percentage points (PENG -20.1% against MSTRX +10.9%). Their daily returns move loosely together (correlation 0.49 across 21 shared trading days). PENG has been the more volatile of the two, at 122% annualised against MSTRX's 101%.

Correlation: 0.49
Size ratio: 1 : 1846.2
Ahead over 30 days: MSTRX

Penguin Solutions • Robinhood TokenPENG

$47.7700

24h: -8.32%
Market cap: $69,417
Volume 24h: $35,398
Volatility (ann.): 122%

MicroStrategy xStockMSTRX

$132.6700

24h: -5.18%
Market cap: $128.16M
Volume 24h: $3.08M
Volatility (ann.): 101%

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

Performance

PENGMSTRX

7 days-18.41%+0.26%MSTRX
30 days-20.12%+10.88%MSTRX

Correlation

0.49over 21 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	PENG	MSTRX
Max drawdown (400d)	-39.2%	-18.3%
Risk-adjusted return (90d)	-0.09	0.38

Relative strength over 90 days: MSTRX outperformed PENG by 19.0% — measured on the PENG/MSTRX ratio, so it holds regardless of market direction.

Penguin Solutions • Robinhood Token →MicroStrategy xStock →