HDX1.DE vs. MSTR
HDX1.DE (Hashdex Nasdaq Crypto Index Europe ETP EUR) is Cryptocurrency fund tracking the Nasdaq Crypto Index, while MSTR (Strategy Inc) is a stock. Over the past 3 years, HDX1.DE returned 20.36%/yr vs 56.92%/yr for MSTR. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
HDX1.DE vs. MSTR - Performance Comparison
Loading charts...
Different Trading Currencies
HDX1.DE is traded in EUR, while MSTR is traded in USD. To make them comparable, the MSTR values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, HDX1.DE achieves a -27.18% return, which is significantly lower than MSTR's -15.72% return.
HDX1.DE
- 1D
- -1.27%
- 1M
- -16.34%
- YTD
- -27.18%
- 6M
- -32.11%
- 1Y
- -40.47%
- 3Y*
- 20.36%
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- -6.81%
- 1M
- -30.66%
- YTD
- -15.72%
- 6M
- -32.46%
- 1Y
- -67.99%
- 3Y*
- 56.92%
- 5Y*
- 22.30%
- 10Y*
- 20.71%
HDX1.DE vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HDX1.DE Hashdex Nasdaq Crypto Index Europe ETP EUR | -27.18% | -21.32% | 108.60% | 133.00% | -27.55% |
MSTR Strategy Inc | -15.72% | -53.76% | 388.80% | 332.78% | -43.61% |
Correlation
The correlation between HDX1.DE and MSTR is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2022 | 0.52 |
The correlation between HDX1.DE and MSTR shifts across timeframes, from 0.52 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HDX1.DE vs. MSTR — Risk / Return Rank
HDX1.DE
MSTR
HDX1.DE vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.DE) 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.
| HDX1.DE | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.81 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.89 | +0.12 |
| Martin ratioReturn relative to average drawdown | -1.32 | -1.32 | 0.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HDX1.DE | MSTR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.93 | -0.98 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.25 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.28 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.29 | +0.13 |
Drawdowns
HDX1.DE vs. MSTR - Drawdown Comparison
The maximum HDX1.DE drawdown since its inception was -52.67%, smaller than the maximum MSTR drawdown of -87.80%. Use the drawdown chart below to compare losses from any high point for HDX1.DE and MSTR.
Loading charts...
Drawdown Indicators
| HDX1.DE | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.67% | -87.80% | +35.13% |
Max Drawdown (1Y)Largest decline over 1 year | -52.67% | -76.81% | +24.14% |
Max Drawdown (3Y)Largest decline over 3 years | -52.67% | -79.79% | +27.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -82.73% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -87.80% | — |
Current DrawdownCurrent decline from peak | -51.16% | -75.74% | +24.58% |
Average DrawdownAverage peak-to-trough decline | -15.99% | -34.50% | +18.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.69% | 51.71% | -21.02% |
Volatility
HDX1.DE vs. MSTR - Volatility Comparison
The current volatility for Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.DE) is 9.66%, while Strategy Inc (MSTR) has a volatility of 19.00%. This indicates that HDX1.DE 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.
Loading charts...
Volatility by Period
| HDX1.DE | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.66% | 19.00% | -9.34% |
Volatility (6M)Calculated over the trailing 6-month period | 32.66% | 56.10% | -23.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.42% | 69.99% | -26.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.00% | 89.75% | -38.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.00% | 73.14% | -22.14% |
Dividends
HDX1.DE vs. MSTR - Dividend Comparison
Neither HDX1.DE nor MSTR has paid dividends to shareholders.
Frequently Asked Questions
HDX1.DE and MSTR have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for HDX1.DE and MSTR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer