MSTR vs. BTC-USD
MSTR (Strategy Inc) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, MSTR returned 17.95%/yr vs 58.05%/yr for BTC-USD. At a 0.27 correlation, their price movements are largely independent.
Performance
MSTR vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, MSTR achieves a -35.78% return, which is significantly lower than BTC-USD's -25.95% return. Over the past 10 years, MSTR has underperformed BTC-USD with an annualized return of 17.95%, while BTC-USD has yielded a comparatively higher 58.05% annualized return.
MSTR
- 1D
- 5.95%
- 1M
- -21.29%
- 6M
- -43.59%
- YTD
- -35.78%
- 1Y
- -78.36%
- 3Y*
- 28.60%
- 5Y*
- 12.52%
- 10Y*
- 17.95%
BTC-USD
- 1D
- 4.06%
- 1M
- -1.40%
- 6M
- -32.07%
- YTD
- -25.95%
- 1Y
- -45.95%
- 3Y*
- 28.83%
- 5Y*
- 15.25%
- 10Y*
- 58.05%
MSTR vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSTR Strategy Inc | -35.78% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
BTC-USD Bitcoin | -25.95% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between MSTR and BTC-USD is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2012 | 0.27 |
Over the past year, MSTR and BTC-USD have become more correlated (0.65) than their long-term average of 0.27, meaning their price movements have been converging.
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Return for Risk
MSTR vs. BTC-USD — Risk / Return Rank
MSTR
BTC-USD
MSTR vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Inc (MSTR) and Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 0.84 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.87 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.40 | +0.04 |
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Drawdowns
MSTR vs. BTC-USD - Drawdown Comparison
The maximum MSTR drawdown since its inception was -99.86%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for MSTR and BTC-USD.
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Drawdown Indicators
| MSTR | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -85.30% | -14.56% |
Max Drawdown (1Y)Largest decline over 1 year | -81.95% | -53.08% | -28.87% |
Max Drawdown (3Y)Largest decline over 3 years | -82.63% | -53.08% | -29.55% |
Max Drawdown (5Y)Largest decline over 5 years | -84.11% | -76.67% | -7.44% |
Max Drawdown (10Y)Largest decline over 10 years | -89.27% | -83.80% | -5.47% |
Current DrawdownCurrent decline from peak | -79.41% | -48.05% | -31.36% |
Average DrawdownAverage peak-to-trough decline | -86.43% | -42.56% | -43.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 57.39% | 29.09% | +28.30% |
Volatility
MSTR vs. BTC-USD - Volatility Comparison
Strategy Inc (MSTR) has a higher volatility of 27.16% compared to Bitcoin (BTC-USD) at 9.63%. This indicates that MSTR's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTR | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.16% | 9.63% | +17.53% |
Volatility (6M)Calculated over the trailing 6-month period | 61.12% | 34.91% | +26.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.42% | 35.72% | +38.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.80% | 43.97% | +46.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.26% | 56.33% | +17.93% |
Frequently Asked Questions
MSTR and BTC-USD have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (27.16%) compared to BTC-USD (9.63%). In terms of maximum drawdown, MSTR dropped -99.86% vs BTC-USD's -85.30%.
MSTR currently has the higher Sharpe Ratio (-1.06 vs -1.07), 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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