MSTR vs. ^GSPC
MSTR (Strategy Inc) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, MSTR returned 18.32%/yr vs 13.47%/yr for ^GSPC. At a 0.46 correlation, their price movements are largely independent.
Performance
MSTR vs. ^GSPC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MSTR achieves a -39.01% return, which is significantly lower than ^GSPC's 8.69% return. Over the past 10 years, MSTR has outperformed ^GSPC with an annualized return of 18.32%, while ^GSPC has yielded a comparatively lower 13.47% annualized return.
MSTR
- 1D
- 12.60%
- 1M
- -41.74%
- YTD
- -39.01%
- 6M
- -40.36%
- 1Y
- -75.86%
- 3Y*
- 39.36%
- 5Y*
- 6.88%
- 10Y*
- 18.32%
^GSPC
- 1D
- 1.18%
- 1M
- -1.84%
- YTD
- 8.69%
- 6M
- 7.74%
- 1Y
- 20.53%
- 3Y*
- 18.69%
- 5Y*
- 11.60%
- 10Y*
- 13.47%
MSTR vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSTR Strategy Inc | -39.01% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
^GSPC S&P 500 Index | 8.69% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between MSTR and ^GSPC is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 1998 | 0.46 |
The correlation between MSTR and ^GSPC has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.
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
MSTR vs. ^GSPC — Risk / Return Rank
MSTR
^GSPC
MSTR vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Inc (MSTR) and S&P 500 Index (^GSPC). 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.
| MSTR | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -4.41 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.30 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 2.27 | -3.19 |
| Martin ratioReturn relative to average drawdown | -1.37 | 9.90 | -11.27 |
Loading charts...
Drawdowns
MSTR vs. ^GSPC - Drawdown Comparison
The maximum MSTR drawdown since its inception was -99.86%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for MSTR and ^GSPC.
Loading charts...
Drawdown Indicators
| MSTR | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -56.78% | -43.08% |
Max Drawdown (1Y)Largest decline over 1 year | -81.95% | -9.10% | -72.85% |
Max Drawdown (3Y)Largest decline over 3 years | -82.63% | -18.90% | -63.73% |
Max Drawdown (5Y)Largest decline over 5 years | -84.11% | -25.43% | -58.68% |
Max Drawdown (10Y)Largest decline over 10 years | -89.27% | -33.92% | -55.35% |
Current DrawdownCurrent decline from peak | -80.44% | -2.23% | -78.21% |
Average DrawdownAverage peak-to-trough decline | -86.44% | -10.71% | -75.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.19% | 2.08% | +53.11% |
Volatility
MSTR vs. ^GSPC - Volatility Comparison
Strategy Inc (MSTR) has a higher volatility of 28.41% compared to S&P 500 Index (^GSPC) at 4.94%. This indicates that MSTR's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MSTR | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.41% | 4.94% | +23.47% |
Volatility (6M)Calculated over the trailing 6-month period | 60.21% | 9.93% | +50.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.35% | 12.55% | +61.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.65% | 17.01% | +73.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.13% | 18.06% | +56.07% |
Frequently Asked Questions
MSTR and ^GSPC have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (28.41%) compared to ^GSPC (4.94%). In terms of maximum drawdown, MSTR dropped -99.86% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.65 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.
Find the right allocation for MSTR and ^GSPC
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