BTC-USD vs. MSTR
BTC-USD (Bitcoin) is a cryptocurrency, while MSTR (Strategy Inc) is a stock. Over the past 10 years, BTC-USD returned 57.02%/yr vs 19.91%/yr for MSTR. At a 0.26 correlation, their price movements are largely independent.
Performance
BTC-USD vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -29.41% return, which is significantly lower than MSTR's -24.09% return. Over the past 10 years, BTC-USD has outperformed MSTR with an annualized return of 57.02%, while MSTR has yielded a comparatively lower 19.91% annualized return.
BTC-USD
- 1D
- 0.13%
- 1M
- -24.42%
- YTD
- -29.41%
- 6M
- -32.89%
- 1Y
- -44.00%
- 3Y*
- 33.54%
- 5Y*
- 10.59%
- 10Y*
- 57.02%
MSTR
- 1D
- -1.43%
- 1M
- -41.13%
- YTD
- -24.09%
- 6M
- -37.53%
- 1Y
- -70.51%
- 3Y*
- 59.87%
- 5Y*
- 17.44%
- 10Y*
- 19.91%
BTC-USD vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -29.41% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
MSTR Strategy Inc | -24.09% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
Correlation
The correlation between BTC-USD and MSTR is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2012 | 0.26 |
Over the past year, BTC-USD and MSTR have become more correlated (0.62) than their long-term average of 0.26, meaning their price movements have been converging.
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Return for Risk
BTC-USD vs. MSTR — Risk / Return Rank
BTC-USD
MSTR
BTC-USD vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) 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.
| BTC-USD | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.80 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.92 | +0.06 |
| Martin ratioReturn relative to average drawdown | -1.51 | -1.34 | -0.17 |
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Drawdowns
BTC-USD vs. MSTR - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for BTC-USD and MSTR.
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Drawdown Indicators
| BTC-USD | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -99.86% | +14.56% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -76.53% | +25.32% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -77.42% | +26.21% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -84.11% | +7.44% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -89.27% | +5.47% |
Current DrawdownCurrent decline from peak | -50.48% | -75.66% | +25.18% |
Average DrawdownAverage peak-to-trough decline | -42.33% | -86.46% | +44.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.75% | 52.61% | -17.86% |
Volatility
BTC-USD vs. MSTR - Volatility Comparison
The current volatility for Bitcoin (BTC-USD) is 11.36%, while Strategy Inc (MSTR) has a volatility of 20.38%. This indicates that BTC-USD 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
| BTC-USD | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.36% | 20.38% | -9.02% |
Volatility (6M)Calculated over the trailing 6-month period | 34.49% | 57.19% | -22.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.52% | 70.92% | -35.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.73% | 90.80% | -46.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.69% | 73.79% | -17.10% |
Frequently Asked Questions
BTC-USD and MSTR have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (20.38%) compared to BTC-USD (11.36%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs MSTR's -99.86%.
MSTR currently has the higher Sharpe Ratio (-1.00 vs -1.03), 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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