COIN vs. MSTR

Last updated Apr 2, 2026

Compare and contrast key facts about Coinbase Global, Inc. (COIN) and MicroStrategy Incorporated (MSTR).

Performance

COIN vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Coinbase Global, Inc. (COIN) and MicroStrategy Incorporated (MSTR). The values are adjusted to include any dividend payments, if applicable.

COIN vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
COIN Coinbase Global, Inc.	-23.50%	-8.92%	42.77%	391.44%	-85.98%	-23.12%
MSTR MicroStrategy Incorporated	-19.20%	-47.53%	358.54%	346.15%	-74.00%	-25.97%

Fundamentals

Market Cap COIN : $46.41B MSTR : $36.10B
EPS COIN : $4.51 MSTR : -$13.50
PS Ratio COIN : 7.52 MSTR : 76.84
PB Ratio COIN : 3.14 MSTR : 6.30
Total Revenue (TTM) COIN : $6.43B MSTR : $477.23M
Gross Profit (TTM) COIN : $4.96B MSTR : $327.82M
EBITDA (TTM) COIN : $1.78B MSTR : -$5.44B

Returns By Period

In the year-to-date period, COIN achieves a -23.50% return, which is significantly lower than MSTR's -19.20% return.

COIN

• 1D: -0.93%
• 1M: -6.61%
• YTD: -23.50%
• 6M: -50.03%
• 1Y: -0.88%
• 3Y*: 36.80%
• 5Y*: —
• 10Y*: —

MSTR

• 1D: -1.62%
• 1M: -10.80%
• YTD: -19.20%
• 6M: -63.72%
• 1Y: -59.88%
• 3Y*: 61.35%
• 5Y*: 11.78%
• 10Y*: 20.98%

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

Return for Risk

COIN vs. MSTR — Risk / Return Rank

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

COIN

COIN Risk / Return Rank: 41
COIN Sharpe Ratio Rank: 39
COIN Sortino Ratio Rank: 43
COIN Omega Ratio Rank: 41
COIN Calmar Ratio Rank: 40
COIN Martin Ratio Rank: 40

MSTR

MSTR Risk / Return Rank: 11
MSTR Sharpe Ratio Rank: 8
MSTR Sortino Ratio Rank: 7
MSTR Omega Ratio Rank: 10
MSTR Calmar Ratio Rank: 14
MSTR Martin Ratio Rank: 15

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.

COIN vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Coinbase Global, Inc. (COIN) 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.

	COIN	MSTR	Difference
Sharpe ratio Return per unit of total volatility	-0.01	-0.81	+0.80
Sortino ratio Return per unit of downside risk	0.58	-1.27	+1.85
Omega ratio Gain probability vs. loss probability	1.07	0.86	+0.21
Calmar ratio Return relative to maximum drawdown	0.01	-0.75	+0.76
Martin ratio Return relative to average drawdown	0.01	-1.30	+1.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COIN vs. MSTR - Sharpe Ratio Comparison

The current COIN Sharpe Ratio is -0.01, which is higher than the MSTR Sharpe Ratio of -0.81. The chart below compares the historical Sharpe Ratios of COIN and MSTR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	COIN	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	-0.81	+0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.14	0.12	-0.26

Correlation

The correlation between COIN and MSTR is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

COIN vs. MSTR - Dividend Comparison

Neither COIN nor MSTR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

COIN vs. MSTR - Drawdown Comparison

The maximum COIN drawdown since its inception was -90.90%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for COIN and MSTR.

Drawdown Indicators

	COIN	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-90.90%	-99.86%	+8.96%
Max Drawdown (1Y) Largest decline over 1 year	-66.39%	-76.53%	+10.14%
Max Drawdown (5Y) Largest decline over 5 years	—	-84.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.27%	—
Current Drawdown Current decline from peak	-58.79%	-74.09%	+15.30%
Average Drawdown Average peak-to-trough decline	-49.66%	-86.60%	+36.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.71%	44.22%	-11.51%

Volatility

COIN vs. MSTR - Volatility Comparison

Coinbase Global, Inc. (COIN) has a higher volatility of 23.29% compared to MicroStrategy Incorporated (MSTR) at 18.44%. This indicates that COIN's price experiences larger fluctuations and is considered to be riskier than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COIN	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.29%	18.44%	+4.85%
Volatility (6M) Calculated over the trailing 6-month period	52.06%	55.57%	-3.51%
Volatility (1Y) Calculated over the trailing 1-year period	75.17%	74.11%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	86.05%	91.29%	-5.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	86.05%	73.15%	+12.90%

Financials