Shopify • Robinhood Token vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 1875.7× the size of Shopify • Robinhood Token (SHOP) by market capitalisation. Over the past 30 days, MSTRX is ahead by 6.0 percentage points (SHOP +4.9% against MSTRX +10.9%). Their daily returns move barely together (correlation 0.18 across 27 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against SHOP's 74%.

Correlation: 0.18
Size ratio: 1 : 1875.7
Ahead over 30 days: MSTRX

Shopify • Robinhood TokenSHOP

$151.7500

24h: +10.97%
Market cap: $71,979
Volume 24h: $7,353
Volatility (ann.): 74%

MicroStrategy xStockMSTRX

$139.8000

24h: +2.94%
Market cap: $135.01M
Volume 24h: $3.42M
Volatility (ann.): 101%

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

Performance

SHOPMSTRX

7 days+6.50%+0.26%SHOP
30 days+4.91%+10.88%MSTRX

Correlation

0.18over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1890d: 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	SHOP	MSTRX
Max drawdown (400d)	-16.1%	-18.3%
Risk-adjusted return (90d)	0.08	0.38

Relative strength over 90 days: SHOP outperformed MSTRX by 1.0% — measured on the SHOP/MSTRX ratio, so it holds regardless of market direction.

Shopify • Robinhood Token →MicroStrategy xStock →