ANET vs. MSTR

Last updated Jun 13, 2026

ANET (Arista Networks, Inc.) and MSTR (Strategy Inc) are both stocks. Both are in the Technology sector — ANET in Computer Hardware, MSTR in Software - Application. Over the past 10 years, ANET returned 43.12%/yr vs 20.92%/yr for MSTR. At a 0.35 correlation, their price movements are largely independent.

Performance

ANET vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arista Networks, Inc. (ANET) and Strategy Inc (MSTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANET achieves a 24.58% return, which is significantly higher than MSTR's -18.41% return. Over the past 10 years, ANET has outperformed MSTR with an annualized return of 43.12%, while MSTR has yielded a comparatively lower 20.92% annualized return.

ANET

• 1D: 4.37%
• 1M: 16.03%
• YTD: 24.58%
• 6M: 30.84%
• 1Y: 70.45%
• 3Y*: 57.04%
• 5Y*: 48.31%
• 10Y*: 43.12%

MSTR

• 1D: 3.18%
• 1M: -30.37%
• YTD: -18.41%
• 6M: -29.74%
• 1Y: -67.36%
• 3Y*: 63.46%
• 5Y*: 19.14%
• 10Y*: 20.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ANET vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANET Arista Networks, Inc.	24.58%	18.55%	87.73%	94.07%	-15.58%	97.89%	42.86%	-3.46%	-10.56%	143.44%
MSTR Strategy Inc	-18.41%	-47.53%	358.54%	346.15%	-74.00%	40.13%	172.42%	11.65%	-2.70%	-33.49%

Correlation

The correlation between ANET and MSTR is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014	0.35

Fundamentals

Market Cap ANET : $207.94B MSTR : $41.40B
EPS ANET : $2.92 MSTR : -$40.19
PS Ratio ANET : 21.42 MSTR : 77.72
PB Ratio ANET : 15.42 MSTR : 1.13
Total Revenue (TTM) ANET : $9.71B MSTR : $490.47M
Gross Profit (TTM) ANET : $6.17B MSTR : $334.08M
EBITDA (TTM) ANET : $4.21B MSTR : $466.93M

Return for Risk

ANET vs. MSTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ANET

ANET Risk / Return Rank: 78
ANET Sharpe Ratio Rank: 80
ANET Sortino Ratio Rank: 75
ANET Omega Ratio Rank: 74
ANET Calmar Ratio Rank: 80
ANET Martin Ratio Rank: 78

MSTR

MSTR Risk / Return Rank: 8
MSTR Sharpe Ratio Rank: 6
MSTR Sortino Ratio Rank: 4
MSTR Omega Ratio Rank: 7
MSTR Calmar Ratio Rank: 8
MSTR Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ANET vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arista Networks, Inc. (ANET) 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.

	ANET	MSTR	Difference
Sharpe ratio: Return per unit of total volatility	1.32	-0.95	+2.27
Sortino ratio: Return per unit of downside risk	1.90	-1.71	+3.61
Omega ratio: Gain probability vs. loss probability	1.24	0.82	+0.42
Calmar ratio: Return relative to maximum drawdown	2.50	-0.88	+3.38
Martin ratio: Return relative to average drawdown	5.20	-1.27	+6.47

ANET vs. MSTR - Sharpe Ratio Comparison

The current ANET Sharpe Ratio is 1.32, which is higher than the MSTR Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of ANET and MSTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ANET vs. MSTR - Drawdown Comparison

The maximum ANET drawdown since its inception was -52.20%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for ANET and MSTR.

Drawdown Indicators

	ANET	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-52.20%	-99.86%	+47.66%
Max Drawdown (1Y) Largest decline over 1 year	-28.33%	-76.53%	+48.20%
Max Drawdown (3Y) Largest decline over 3 years	-50.42%	-77.42%	+27.00%
Max Drawdown (5Y) Largest decline over 5 years	-50.42%	-84.11%	+33.69%
Max Drawdown (10Y) Largest decline over 10 years	-52.20%	-89.27%	+37.07%
Current Drawdown Current decline from peak	-8.15%	-73.84%	+65.69%
Average Drawdown Average peak-to-trough decline	-15.39%	-86.45%	+71.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.60%	53.01%	-39.41%

Volatility

ANET vs. MSTR - Volatility Comparison

The current volatility for Arista Networks, Inc. (ANET) is 16.62%, while Strategy Inc (MSTR) has a volatility of 21.60%. This indicates that ANET 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.

Volatility by Period

	ANET	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.62%	21.60%	-4.98%
Volatility (6M) Calculated over the trailing 6-month period	40.79%	57.34%	-16.55%
Volatility (1Y) Calculated over the trailing 1-year period	53.57%	71.15%	-17.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.23%	90.79%	-43.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.00%	73.80%	-28.80%

Dividends

ANET vs. MSTR - Dividend Comparison

Neither ANET nor MSTR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both ANET and MSTR in my portfolio?

ANET and MSTR have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANET or MSTR?

MSTR has higher volatility (21.60%) compared to ANET (16.62%). In terms of maximum drawdown, ANET dropped -52.20% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

ANET currently has the higher Sharpe Ratio (1.32 vs -0.95), 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.