SpaceX xStock vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 1.8× the size of SpaceX xStock (SPCXX) by market capitalisation. Over the past 30 days, MSTRX is ahead by 9.8 percentage points (SPCXX -5.1% against MSTRX +4.7%). Their daily returns move barely together (correlation 0.34 across 51 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against SPCXX's 44%.

Correlation: 0.34
Size ratio: 1 : 1.8
Ahead over 30 days: MSTRX

SpaceX xStockSPCXX

$135.9300

24h: -3.73%
Market cap: $78.43M
Volume 24h: $13.37M
Volatility (ann.): 44%

MicroStrategy xStockMSTRX

$145.6800

24h: +7.11%
Market cap: $139.70M
Volume 24h: $4.06M
Volatility (ann.): 101%

SPCXX 36.0%Share of the two combined market caps64.0% MSTRX

Performance

SPCXXMSTRX

7 days-4.45%-3.45%MSTRX
30 days-5.11%+4.70%MSTRX

Correlation

0.34over 51 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2090d: 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	SPCXX	MSTRX
Max drawdown (400d)	-13.5%	-18.3%
Risk-adjusted return (90d)	0.09	0.30

Relative strength over 90 days: MSTRX outperformed SPCXX by 8.9% — measured on the SPCXX/MSTRX ratio, so it holds regardless of market direction.

SpaceX xStock →MicroStrategy xStock →