SK Hynix (Backpack Securities) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 38.9× the size of SK Hynix (Backpack Securities) (SKHY) by market capitalisation. Over the past 30 days, MSTRX is ahead by 19.9 percentage points (SKHY -15.2% against MSTRX +4.7%). Their daily returns move barely together (correlation 0.22 across 30 shared trading days). Both have run at a similar volatility, around 101% annualised.

Correlation: 0.22
Size ratio: 1 : 38.9
Ahead over 30 days: MSTRX

SK Hynix (Backpack Securities)SKHY

$145.4400

24h: -3.07%
Market cap: $3.37M
Volume 24h: $2.99M
Volatility (ann.): 102%

MicroStrategy xStockMSTRX

$137.4900

24h: +4.92%
Market cap: $131.05M
Volume 24h: $2.75M
Volatility (ann.): 101%

SKHY 2.5%Share of the two combined market caps97.5% MSTRX

Performance

SKHYMSTRX

7 days-17.99%-3.45%MSTRX
30 days-15.17%+4.70%MSTRX

Correlation

0.22over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2290d: 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	SKHY	MSTRX
Max drawdown (400d)	-27.6%	-18.3%
Risk-adjusted return (90d)	-0.08	0.30

Relative strength over 90 days: MSTRX outperformed SKHY by 8.8% — measured on the SKHY/MSTRX ratio, so it holds regardless of market direction.

SK Hynix (Backpack Securities) →MicroStrategy xStock →