SK Hynix • Robinhood Token vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 73.6× the size of SK Hynix • Robinhood Token (SKYHY) by market capitalisation. Over the past 30 days, MSTRX is ahead by 22.6 percentage points (SKYHY -17.9% against MSTRX +4.7%). Their daily returns move barely together (correlation 0.33 across 31 shared trading days). Both have run at a similar volatility, around 99% annualised.

Correlation: 0.33
Size ratio: 1 : 73.6
Ahead over 30 days: MSTRX

SK Hynix • Robinhood TokenSKYHY

$145.3900

24h: -2.88%
Market cap: $1.76M
Volume 24h: $4.59M
Volatility (ann.): 98%

MicroStrategy xStockMSTRX

$136.1500

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

SKYHY 1.3%Share of the two combined market caps98.7% MSTRX

Performance

SKYHYMSTRX

7 days+4.49%-3.45%SKYHY
30 days-17.89%+4.70%MSTRX

Correlation

0.33over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3390d: 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	SKYHY	MSTRX
Max drawdown (400d)	-26.7%	-18.3%
Risk-adjusted return (90d)	-0.08	0.30

Relative strength over 90 days: MSTRX outperformed SKYHY by 9.9% — measured on the SKYHY/MSTRX ratio, so it holds regardless of market direction.

SK Hynix • Robinhood Token →MicroStrategy xStock →