BTC-USD vs. MSTR
BTC-USD (Bitcoin) is a cryptocurrency, while MSTR (MicroStrategy Incorporated) is a stock. Over the past 10 years, BTC-USD returned 67.10%/yr vs 21.71%/yr for MSTR. At 0.26, 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 -17.74% return, which is significantly lower than MSTR's -15.20% return. Over the past 10 years, BTC-USD has outperformed MSTR with an annualized return of 67.10%, while MSTR has yielded a comparatively lower 21.71% annualized return.
BTC-USD
- 1D
- 1.25%
- 1M
- 2.88%
- YTD
- -17.74%
- 6M
- -40.87%
- 1Y
- -12.86%
- 3Y*
- 34.38%
- 5Y*
- 3.78%
- 10Y*
- 67.10%
MSTR
- 1D
- 0.44%
- 1M
- -6.93%
- YTD
- -15.20%
- 6M
- -59.77%
- 1Y
- -56.59%
- 3Y*
- 60.31%
- 5Y*
- 12.63%
- 10Y*
- 21.71%
BTC-USD vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -17.74% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
MSTR MicroStrategy Incorporated | -15.20% | -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 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2012 | 0.26 |
Over the past year, BTC-USD and MSTR have become more correlated (0.59) 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 MicroStrategy Incorporated (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.
| BTC-USD | MSTR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.30 | -0.84 | +0.54 |
Sortino ratioReturn per unit of downside risk | -0.15 | -1.27 | +1.12 |
Omega ratioGain probability vs. loss probability | 0.98 | 0.86 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.68 | -0.32 |
Martin ratioReturn relative to average drawdown | -1.73 | -1.15 | -0.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTC-USD | MSTR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.30 | -0.84 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.14 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | 0.30 | +0.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.20 | 0.12 | +1.08 |
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 | -49.65% | -76.53% | +26.88% |
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 | -42.29% | -72.80% | +30.51% |
Average DrawdownAverage peak-to-trough decline | -42.05% | -86.59% | +44.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.70% | 45.34% | -16.64% |
Volatility
BTC-USD vs. MSTR - Volatility Comparison
The current volatility for Bitcoin (BTC-USD) is 11.37%, while MicroStrategy Incorporated (MSTR) has a volatility of 15.80%. 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 | 11.37% | 15.80% | -4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 36.19% | 55.07% | -18.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.37% | 72.38% | -36.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.88% | 91.26% | -44.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.72% | 73.19% | -16.47% |