MSTR vs. ETH-USD
MSTR (Strategy Inc) is a stock, while ETH-USD (Ethereum) is a cryptocurrency. Over the past 10 years, MSTR returned 20.92%/yr vs 55.37%/yr for ETH-USD. At a 0.29 correlation, their price movements are largely independent.
Performance
MSTR vs. ETH-USD - Performance Comparison
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Returns By Period
In the year-to-date period, MSTR achieves a -18.41% return, which is significantly higher than ETH-USD's -42.02% return. Over the past 10 years, MSTR has underperformed ETH-USD with an annualized return of 20.92%, while ETH-USD has yielded a comparatively higher 55.37% annualized return.
MSTR
- 1D
- 3.18%
- 1M
- -30.13%
- YTD
- -18.41%
- 6M
- -29.74%
- 1Y
- -67.62%
- 3Y*
- 63.46%
- 5Y*
- 19.14%
- 10Y*
- 20.92%
ETH-USD
- 1D
- 2.38%
- 1M
- -22.62%
- YTD
- -42.02%
- 6M
- -43.84%
- 1Y
- -32.06%
- 3Y*
- 1.09%
- 5Y*
- -7.52%
- 10Y*
- 55.37%
MSTR vs. ETH-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSTR Strategy Inc | -18.41% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
ETH-USD Ethereum | -42.02% | -10.91% | 46.00% | 90.84% | -67.48% | 398.30% | 473.88% | -1.52% | -82.39% | 8,984.19% |
Correlation
The correlation between MSTR and ETH-USD is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2015 | 0.29 |
Over the past year, MSTR and ETH-USD have become more correlated (0.55) than their long-term average of 0.29, meaning their price movements have been converging.
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Return for Risk
MSTR vs. ETH-USD — Risk / Return Rank
MSTR
ETH-USD
MSTR vs. ETH-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Inc (MSTR) and Ethereum (ETH-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 | ETH-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.97 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.47 | -0.41 |
| Martin ratioReturn relative to average drawdown | -1.27 | -0.81 | -0.46 |
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Drawdowns
MSTR vs. ETH-USD - Drawdown Comparison
The maximum MSTR drawdown since its inception was -99.86%, which is greater than ETH-USD's maximum drawdown of -94.01%. Use the drawdown chart below to compare losses from any high point for MSTR and ETH-USD.
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Drawdown Indicators
| MSTR | ETH-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -94.01% | -5.85% |
Max Drawdown (1Y)Largest decline over 1 year | -76.53% | -67.53% | -9.00% |
Max Drawdown (3Y)Largest decline over 3 years | -77.42% | -67.53% | -9.89% |
Max Drawdown (5Y)Largest decline over 5 years | -84.11% | -79.35% | -4.76% |
Max Drawdown (10Y)Largest decline over 10 years | -89.27% | -94.01% | +4.74% |
Current DrawdownCurrent decline from peak | -73.84% | -64.39% | -9.45% |
Average DrawdownAverage peak-to-trough decline | -86.45% | -50.90% | -35.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.01% | 45.67% | +7.34% |
Volatility
MSTR vs. ETH-USD - Volatility Comparison
Strategy Inc (MSTR) has a higher volatility of 21.60% compared to Ethereum (ETH-USD) at 17.43%. This indicates that MSTR's price experiences larger fluctuations and is considered to be riskier than ETH-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 | ETH-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.60% | 17.43% | +4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 57.34% | 46.35% | +10.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.15% | 56.08% | +15.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.79% | 59.55% | +31.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.80% | 77.88% | -4.08% |
Frequently Asked Questions
MSTR and ETH-USD have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (21.60%) compared to ETH-USD (17.43%). In terms of maximum drawdown, MSTR dropped -99.86% vs ETH-USD's -94.01%.
ETH-USD currently has the higher Sharpe Ratio (-0.48 vs -0.95), 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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