MicroStrategy xStock (MSTRX) is 47.1× the size of Qualcomm (bStocks Tokenized Stock) (QCOMB) by market capitalisation. Their daily returns move loosely together (correlation 0.43 across 55 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against QCOMB's 50%.
$162.5800
QCOMBMSTRX
0.43over 55 shared trading days
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.
| Metric | QCOMB | MSTRX |
|---|---|---|
| Max drawdown (400d) | -22.9% | -18.3% |
| Risk-adjusted return (90d) | 0.10 | 0.30 |
Relative strength over 90 days: MSTRX outperformed QCOMB by 22.7% — measured on the QCOMB/MSTRX ratio, so it holds regardless of market direction.