MicroStrategy xStock (MSTRX) is 13.5× the size of Robinhood xStock (HOODX) by market capitalisation. Their daily returns move loosely together (correlation 0.53 across 43 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against HOODX's 77%.
HOODXMSTRX
0.53over 43 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 | HOODX | MSTRX |
|---|---|---|
| Max drawdown (400d) | -57.6% | -18.3% |
| Risk-adjusted return (90d) | -0.32 | 0.30 |
| Best 30 days (past year) | +46.2% | — |
| Worst 30 days (past year) | -42.4% | — |
Relative strength over 90 days: MSTRX outperformed HOODX by 32.2% — measured on the HOODX/MSTRX ratio, so it holds regardless of market direction.