MSTR vs. BTC-USD
MSTR (Strategy Inc) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, MSTR returned 18.45%/yr vs 57.69%/yr for BTC-USD. At a 0.26 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 -38.05% return, which is significantly lower than BTC-USD's -30.61% return. Over the past 10 years, MSTR has underperformed BTC-USD with an annualized return of 18.45%, while BTC-USD has yielded a comparatively higher 57.69% annualized return.
MSTR
- 1D
- -9.35%
- 1M
- -41.13%
- YTD
- -38.05%
- 6M
- -40.69%
- 1Y
- -75.03%
- 3Y*
- 41.95%
- 5Y*
- 11.34%
- 10Y*
- 18.45%
BTC-USD
- 1D
- -3.08%
- 1M
- -21.40%
- YTD
- -30.61%
- 6M
- -30.69%
- 1Y
- -42.79%
- 3Y*
- 25.82%
- 5Y*
- 13.96%
- 10Y*
- 57.69%
MSTR vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSTR Strategy Inc | -38.05% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
BTC-USD Bitcoin | -30.61% | -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 0.64, 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 | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2012 | 0.26 |
Over the past year, MSTR and BTC-USD have become more correlated (0.64) than their long-term average of 0.26, 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 | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.85 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.83 | -0.11 |
| Martin ratioReturn relative to average drawdown | -1.38 | -1.40 | +0.02 |
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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 | -79.35% | -51.32% | -28.03% |
Max Drawdown (3Y)Largest decline over 3 years | -80.13% | -51.32% | -28.81% |
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 | -80.13% | -51.32% | -28.81% |
Average DrawdownAverage peak-to-trough decline | -86.44% | -42.41% | -44.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.47% | 31.43% | +23.04% |
Volatility
MSTR vs. BTC-USD - Volatility Comparison
Strategy Inc (MSTR) has a higher volatility of 23.29% compared to Bitcoin (BTC-USD) at 12.46%. 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 | 23.29% | 12.46% | +10.83% |
Volatility (6M)Calculated over the trailing 6-month period | 58.20% | 34.72% | +23.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.58% | 35.61% | +36.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.65% | 44.27% | +46.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.95% | 56.41% | +17.54% |
Frequently Asked Questions
MSTR and BTC-USD 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.
MSTR has higher volatility (23.29%) compared to BTC-USD (12.46%). In terms of maximum drawdown, MSTR dropped -99.86% vs BTC-USD's -85.30%.
BTC-USD currently has the higher Sharpe Ratio (-1.00 vs -1.04), 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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