CORZZ vs. MSTR

Last updated Aug 1, 2026

CORZZ (Core Scientific Inc. Tranche 2 Warrants) and MSTR (Strategy Inc) are both stocks. Both are in the Technology sector — CORZZ in Software - Infrastructure, MSTR in Software - Application. Over the past year, CORZZ returned 67.27% vs -74.56% for MSTR. Their 0.44 correlation means their historical movements had little consistent relationship.

Performance

CORZZ vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Core Scientific Inc. Tranche 2 Warrants (CORZZ) and Strategy Inc (MSTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CORZZ achieves a 45.53% return, which is significantly higher than MSTR's -38.61% return.

CORZZ

• 1D: -3.29%
• 1M: -1.03%
• 6M: 17.43%
• YTD: 45.53%
• 1Y: 67.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 155.37%

MSTR

• 1D: -4.56%
• 1M: -7.43%
• 6M: -37.69%
• YTD: -38.61%
• 1Y: -74.56%
• 3Y*: 28.96%
• 5Y*: 8.30%
• 10Y*: 18.75%
• ALL TIME*: 9.12%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CORZZ Core Scientific Inc. Tranche 2 Warrants	$162.54K	$159.83K	$552.12K
MSTR Strategy Inc	$1.53B	$1.65B	$2.43B

CORZZ vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CORZZ Core Scientific Inc. Tranche 2 Warrants	45.53%	3.71%	601.00%
MSTR Strategy Inc	-38.61%	-47.53%	543.33%

Correlation

The correlation between CORZZ and MSTR is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (All Time) Calculated using the full available price history since Jan 24, 2024	0.44

Fundamentals

Market Cap CORZZ : $6.78B MSTR : $30.86B
EPS CORZZ : -$4.47 MSTR : -$97.96
PS Ratio CORZZ : 15.44 MSTR : 59.67
Total Revenue (TTM) CORZZ : $440.31M MSTR : $498.35M
Gross Profit (TTM) CORZZ : $124.45M MSTR : $336.89M
EBITDA (TTM) CORZZ : -$1.14B MSTR : -$36.86B

Return for Risk

CORZZ vs. MSTR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CORZZ

CORZZ Risk / Return Rank: 70
CORZZ Sharpe Ratio Rank: 71
CORZZ Sortino Ratio Rank: 70
CORZZ Omega Ratio Rank: 68
CORZZ Calmar Ratio Rank: 72
CORZZ Martin Ratio Rank: 70

MSTR

MSTR Risk / Return Rank: 5
MSTR Sharpe Ratio Rank: 4
MSTR Sortino Ratio Rank: 2
MSTR Omega Ratio Rank: 5
MSTR Calmar Ratio Rank: 4
MSTR Martin Ratio Rank: 9

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CORZZ vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Core Scientific Inc. Tranche 2 Warrants (CORZZ) 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.

	CORZZ	MSTR	Difference
Sharpe ratio: Return per unit of total volatility	0.81	-1.02	+1.83
Sortino ratio: Return per unit of downside risk	1.48	-2.18	+3.66
Omega ratio: Gain probability vs. loss probability	1.18	0.78	+0.40
Calmar ratio: Return relative to maximum drawdown	1.40	-0.97	+2.37
Martin ratio: Return relative to average drawdown	2.81	-1.38	+4.19

CORZZ vs. MSTR - Sharpe Ratio Comparison

The current CORZZ Sharpe Ratio is 0.81, which is higher than the MSTR Sharpe Ratio of -1.02. The chart below compares the historical Sharpe Ratios of CORZZ 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

CORZZ vs. MSTR - Drawdown Comparison

The maximum CORZZ drawdown since its inception was -65.20%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for CORZZ and MSTR.

Drawdown Indicators

	CORZZ	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-65.20%	-99.86%	+34.66%
Max Drawdown (1Y) Largest decline over 1 year	-40.39%	-79.53%	+39.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-82.63%	—
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	-27.29%	-80.31%	+53.02%
Average Drawdown Average peak-to-trough decline	-21.24%	-86.42%	+65.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.09%	55.64%	-35.55%

Volatility

CORZZ vs. MSTR - Volatility Comparison

Core Scientific Inc. Tranche 2 Warrants (CORZZ) has a higher volatility of 33.46% compared to Strategy Inc (MSTR) at 18.58%. This indicates that CORZZ'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

	CORZZ	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.46%	18.58%	+14.88%
Volatility (6M) Calculated over the trailing 6-month period	55.51%	60.57%	-5.06%
Volatility (1Y) Calculated over the trailing 1-year period	69.94%	75.24%	-5.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.80%	89.94%	+7.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.80%	74.33%	+23.47%

Dividends

CORZZ vs. MSTR - Dividend Comparison

Neither CORZZ nor MSTR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both CORZZ and MSTR in my portfolio?

CORZZ and MSTR have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CORZZ or MSTR?

CORZZ has higher volatility (33.46%) compared to MSTR (18.58%). In terms of maximum drawdown, CORZZ dropped -65.20% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

CORZZ currently has the higher Sharpe Ratio (0.81 vs -1.02), 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.