MSTR vs. ^NDX
MSTR (Strategy Inc) is a stock, while ^NDX (NASDAQ 100 Index) is an index. Over the past 10 years, MSTR returned 22.02%/yr vs 21.45%/yr for ^NDX. At a 0.48 correlation, their price movements are largely independent.
Performance
MSTR vs. ^NDX - Performance Comparison
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Returns By Period
In the year-to-date period, MSTR achieves a -13.70% return, which is significantly lower than ^NDX's 20.97% return. Both investments have delivered pretty close results over the past 10 years, with MSTR having a 22.02% annualized return and ^NDX not far behind at 21.45%.
MSTR
- 1D
- 5.78%
- 1M
- -26.08%
- YTD
- -13.70%
- 6M
- -19.09%
- 1Y
- -65.75%
- 3Y*
- 64.73%
- 5Y*
- 16.17%
- 10Y*
- 22.02%
^NDX
- 1D
- 3.06%
- 1M
- 4.87%
- YTD
- 20.97%
- 6M
- 21.85%
- 1Y
- 41.20%
- 3Y*
- 26.51%
- 5Y*
- 16.91%
- 10Y*
- 21.45%
MSTR vs. ^NDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSTR Strategy Inc | -13.70% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
^NDX NASDAQ 100 Index | 20.97% | 20.17% | 24.88% | 53.81% | -32.97% | 26.63% | 47.58% | 37.96% | -1.04% | 31.52% |
Correlation
The correlation between MSTR and ^NDX is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 1998 | 0.48 |
The correlation between MSTR and ^NDX has been stable across timeframes, ranging from 0.44 to 0.54 - a consistent structural relationship.
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Return for Risk
MSTR vs. ^NDX — Risk / Return Rank
MSTR
^NDX
MSTR vs. ^NDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Inc (MSTR) and NASDAQ 100 Index (^NDX). 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 | ^NDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.29 | ||
| Sortino ratioReturn per unit of downside risk | -4.68 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.41 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 3.41 | -4.28 |
| Martin ratioReturn relative to average drawdown | -1.24 | 12.69 | -13.92 |
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Drawdowns
MSTR vs. ^NDX - Drawdown Comparison
The maximum MSTR drawdown since its inception was -99.86%, which is greater than ^NDX's maximum drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for MSTR and ^NDX.
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Drawdown Indicators
| MSTR | ^NDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -82.90% | -16.96% |
Max Drawdown (1Y)Largest decline over 1 year | -76.53% | -12.12% | -64.41% |
Max Drawdown (3Y)Largest decline over 3 years | -77.42% | -22.93% | -54.49% |
Max Drawdown (5Y)Largest decline over 5 years | -84.11% | -35.56% | -48.55% |
Max Drawdown (10Y)Largest decline over 10 years | -89.27% | -35.56% | -53.71% |
Current DrawdownCurrent decline from peak | -72.32% | -0.38% | -71.94% |
Average DrawdownAverage peak-to-trough decline | -86.45% | -24.61% | -61.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.20% | 3.26% | +49.94% |
Volatility
MSTR vs. ^NDX - Volatility Comparison
Strategy Inc (MSTR) has a higher volatility of 21.84% compared to NASDAQ 100 Index (^NDX) at 8.06%. This indicates that MSTR's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTR | ^NDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.84% | 8.06% | +13.78% |
Volatility (6M)Calculated over the trailing 6-month period | 57.65% | 14.14% | +43.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.53% | 17.52% | +54.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.56% | 22.80% | +67.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.85% | 22.64% | +51.21% |
Frequently Asked Questions
MSTR and ^NDX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (21.84%) compared to ^NDX (8.06%). In terms of maximum drawdown, MSTR dropped -99.86% vs ^NDX's -82.90%.
^NDX currently has the higher Sharpe Ratio (2.37 vs -0.92), 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.
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