ProShares UltraPro QQQ (bStocks Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 69.9× the size of ProShares UltraPro QQQ (bStocks Tokenized Stock) (TQQQB) by market capitalisation. Their daily returns move loosely together (correlation 0.57 across 55 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against TQQQB's 59%.

Correlation: 0.57
Size ratio: 1 : 69.9

ProShares UltraPro QQQ (bStocks Tokenized Stock)TQQQB

$61.2600

24h: -0.64%
Market cap: $1.85M
Volume 24h: $623,706
Volatility (ann.): 59%

MicroStrategy xStockMSTRX

$136.1500

24h: +2.03%
Market cap: $129.34M
Volume 24h: $2.95M
Volatility (ann.): 101%

TQQQB 1.4%Share of the two combined market caps98.6% MSTRX

Performance

TQQQBMSTRX

7 days-14.88%-3.45%MSTRX
30 days-25.62%+4.70%MSTRX
90 days-16.44%——

Correlation

0.57over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.7490d: 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	TQQQB	MSTRX
Max drawdown (400d)	-28.8%	-18.3%
Risk-adjusted return (90d)	-0.32	0.30

Relative strength over 90 days: MSTRX outperformed TQQQB by 36.3% — measured on the TQQQB/MSTRX ratio, so it holds regardless of market direction.

ProShares UltraPro QQQ (bStocks Tokenized Stock) →MicroStrategy xStock →