Tesla xStock vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 1.9× the size of Tesla xStock (TSLAX) by market capitalisation. Over the past 30 days, TSLAX is ahead by 3.6 percentage points (TSLAX +8.3% against MSTRX +4.7%). Their daily returns move loosely together (correlation 0.37 across 55 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against TSLAX's 44%.

Correlation: 0.37
Size ratio: 1 : 1.9
Ahead over 30 days: TSLAX

Tesla xStockTSLAX

$378.6300

24h: -6.98%
Market cap: $69.25M
Volume 24h: $11.94M
Volatility (ann.): 44%

MicroStrategy xStockMSTRX

$135.6200

24h: +2.65%
Market cap: $128.83M
Volume 24h: $2.89M
Volatility (ann.): 101%

TSLAX 35.0%Share of the two combined market caps65.0% MSTRX

Performance

TSLAXMSTRX

7 days-2.29%-3.45%TSLAX
30 days+8.26%+4.70%TSLAX

Correlation

0.37over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2390d: 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	TSLAX	MSTRX
Max drawdown (400d)	-7.2%	-18.3%
Risk-adjusted return (90d)	0.31	0.30

Relative strength over 90 days: MSTRX outperformed TSLAX by 13.3% — measured on the TSLAX/MSTRX ratio, so it holds regardless of market direction.

Tesla xStock →MicroStrategy xStock →