Taiwan Semiconductor Manufacturing • Robinhood Token vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 100.8× the size of Taiwan Semiconductor Manufacturing • Robinhood Token (TSM) by market capitalisation. Over the past 30 days, MSTRX is ahead by 10.3 percentage points (TSM -5.6% against MSTRX +4.7%). Their daily returns move closely together (correlation 0.62 across 29 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against TSM's 32%.

Correlation: 0.62
Size ratio: 1 : 100.8
Ahead over 30 days: MSTRX

Taiwan Semiconductor Manufacturing • Robinhood TokenTSM

$401.2900

24h: -1.04%
Market cap: $1.31M
Volume 24h: $926,332
Volatility (ann.): 32%

MicroStrategy xStockMSTRX

$138.8200

24h: +5.37%
Market cap: $132.44M
Volume 24h: $2.88M
Volatility (ann.): 101%

TSM 1.0%Share of the two combined market caps99.0% MSTRX

Performance

TSMMSTRX

7 days-11.63%-3.45%MSTRX
30 days-5.65%+4.70%MSTRX

Correlation

0.62over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6290d: 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	TSM	MSTRX
Max drawdown (400d)	-11.7%	-18.3%
Risk-adjusted return (90d)	-0.09	0.30

Relative strength over 90 days: MSTRX outperformed TSM by 5.3% — measured on the TSM/MSTRX ratio, so it holds regardless of market direction.

Taiwan Semiconductor Manufacturing • Robinhood Token →MicroStrategy xStock →