MSTR vs. BTC-USD
MSTR (Strategy Inc) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, MSTR returned 19.02%/yr vs 59.80%/yr for BTC-USD. Their 0.27 correlation means their historical movements had little consistent relationship.
Performance
MSTR vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, MSTR achieves a -37.57% return, which is significantly lower than BTC-USD's -27.65% return. Over the past 10 years, MSTR has underperformed BTC-USD with an annualized return of 19.02%, while BTC-USD has yielded a comparatively higher 59.80% annualized return.
MSTR
- 1D
- 1.69%
- 1M
- -5.86%
- 6M
- -32.06%
- YTD
- -37.57%
- 1Y
- -74.13%
- 3Y*
- 36.02%
- 5Y*
- 7.17%
- 10Y*
- 19.02%
- ALL TIME*
- 9.18%
BTC-USD
- 1D
- -0.30%
- 1M
- 0.35%
- 6M
- -19.52%
- YTD
- -27.65%
- 1Y
- -44.57%
- 3Y*
- 29.61%
- 5Y*
- 9.77%
- 10Y*
- 59.80%
- ALL TIME*
- 87.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTC-USD Bitcoin | $1541.04T | $1614.90T | $2068.30T |
MSTR Strategy Inc | $1.51B | $1.54B | $2.39B |
MSTR vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSTR Strategy Inc | -37.57% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
BTC-USD Bitcoin | -27.65% | -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 have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 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 | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.85 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.84 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.33 | -1.29 | -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 | -79.53% | -53.08% | -26.45% |
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 | -79.98% | -49.24% | -30.74% |
Average DrawdownAverage peak-to-trough decline | -86.42% | -42.74% | -43.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.84% | 25.03% | +30.81% |
Volatility
MSTR vs. BTC-USD - Volatility Comparison
Strategy Inc (MSTR) has a higher volatility of 16.90% compared to Bitcoin (BTC-USD) at 8.46%. 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 | 16.90% | 8.46% | +8.44% |
Volatility (6M)Calculated over the trailing 6-month period | 60.42% | 33.65% | +26.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.93% | 35.87% | +39.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.97% | 43.64% | +46.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.36% | 56.22% | +18.14% |
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 (16.90%) compared to BTC-USD (8.46%). In terms of maximum drawdown, MSTR dropped -99.86% vs BTC-USD's -85.30%.
MSTR currently has the higher Sharpe Ratio (-0.99 vs -1.03), 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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