^GSPC vs. MSTR
^GSPC (S&P 500 Index) is an index, while MSTR (Strategy Inc) is a stock. Over the past 10 years, ^GSPC returned 13.09%/yr vs 17.94%/yr for MSTR. At a 0.46 correlation, their price movements are largely independent.
Performance
^GSPC vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, ^GSPC achieves a 8.73% return, which is significantly higher than MSTR's -35.62% return. Over the past 10 years, ^GSPC has underperformed MSTR with an annualized return of 13.09%, while MSTR has yielded a comparatively higher 17.94% annualized return.
^GSPC
- 1D
- -0.19%
- 1M
- -0.76%
- 6M
- 7.25%
- YTD
- 8.73%
- 1Y
- 18.21%
- 3Y*
- 17.95%
- 5Y*
- 11.30%
- 10Y*
- 13.09%
- ALL TIME*
- 8.08%
MSTR
- 1D
- 3.13%
- 1M
- -13.07%
- 6M
- -43.69%
- YTD
- -35.62%
- 1Y
- -76.89%
- 3Y*
- 30.85%
- 5Y*
- 11.92%
- 10Y*
- 17.94%
- ALL TIME*
- 9.32%
^GSPC vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^GSPC S&P 500 Index | 8.73% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
MSTR Strategy Inc | -35.62% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
Correlation
The correlation between ^GSPC and MSTR is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 1998 | 0.46 |
The correlation between ^GSPC and MSTR has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
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Return for Risk
^GSPC vs. MSTR — Risk / Return Rank
^GSPC
MSTR
^GSPC vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and Strategy Inc (MSTR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^GSPC | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.49 | ||
| Sortino ratioReturn per unit of downside risk | +4.25 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.77 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | -0.95 | +2.96 |
| Martin ratioReturn relative to average drawdown | 8.68 | -1.38 | +10.06 |
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Drawdowns
^GSPC vs. MSTR - Drawdown Comparison
The maximum ^GSPC drawdown since its inception was -56.78%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for ^GSPC and MSTR.
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Drawdown Indicators
| ^GSPC | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.78% | -99.86% | +43.08% |
Max Drawdown (1Y)Largest decline over 1 year | -9.10% | -80.70% | +71.60% |
Max Drawdown (3Y)Largest decline over 3 years | -18.90% | -82.63% | +63.73% |
Max Drawdown (5Y)Largest decline over 5 years | -25.43% | -84.11% | +58.68% |
Max Drawdown (10Y)Largest decline over 10 years | -33.92% | -89.27% | +55.35% |
Current DrawdownCurrent decline from peak | -2.19% | -79.36% | +77.17% |
Average DrawdownAverage peak-to-trough decline | -10.70% | -86.43% | +75.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.10% | 55.87% | -53.77% |
Volatility
^GSPC vs. MSTR - Volatility Comparison
The current volatility for S&P 500 Index (^GSPC) is 3.13%, while Strategy Inc (MSTR) has a volatility of 25.51%. This indicates that ^GSPC experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^GSPC | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 25.51% | -22.38% |
Volatility (6M)Calculated over the trailing 6-month period | 10.04% | 60.54% | -50.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 74.28% | -61.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.98% | 90.77% | -73.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.06% | 74.27% | -56.21% |
Frequently Asked Questions
^GSPC and MSTR have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (25.51%) compared to ^GSPC (3.13%). In terms of maximum drawdown, ^GSPC dropped -56.78% vs MSTR's -99.86%.
^GSPC currently has the higher Sharpe Ratio (1.45 vs -1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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