OWNB vs. MSTR
OWNB (Bitwise Bitcoin Standard Corporations ETF) is Blockchain fund tracking the Bitwise Bitcoin Standard Corporations Inde, while MSTR (Strategy Inc) is a stock. Over the past year, OWNB returned -51.08% vs -78.81% for MSTR. A 0.80 correlation means they provide meaningful diversification when combined.
Performance
OWNB vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, OWNB achieves a -19.43% return, which is significantly higher than MSTR's -39.39% return.
OWNB
- 1D
- -3.20%
- 1M
- -15.27%
- 6M
- -30.11%
- YTD
- -19.43%
- 1Y
- -51.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- -2.68%
- 1M
- -25.71%
- 6M
- -43.23%
- YTD
- -39.39%
- 1Y
- -78.81%
- 3Y*
- 26.14%
- 5Y*
- 10.45%
- 10Y*
- 17.27%
OWNB vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OWNB Bitwise Bitcoin Standard Corporations ETF | -19.43% | -1.19% |
MSTR Strategy Inc | -39.39% | -36.49% |
Correlation
The correlation between OWNB and MSTR is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2025 | 0.80 |
The correlation between OWNB and MSTR has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.
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Return for Risk
OWNB vs. MSTR — Risk / Return Rank
OWNB
MSTR
OWNB vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Standard Corporations ETF (OWNB) and Strategy Inc (MSTR). 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.
| OWNB | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.76 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.96 | +0.10 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.38 | +0.02 |
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Drawdowns
OWNB vs. MSTR - Drawdown Comparison
The maximum OWNB drawdown since its inception was -59.47%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for OWNB and MSTR.
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Drawdown Indicators
| OWNB | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.47% | -99.86% | +40.39% |
Max Drawdown (1Y)Largest decline over 1 year | -59.47% | -81.95% | +22.48% |
Max Drawdown (3Y)Largest decline over 3 years | — | -82.63% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.27% | — |
Current DrawdownCurrent decline from peak | -54.61% | -80.56% | +25.95% |
Average DrawdownAverage peak-to-trough decline | -26.77% | -86.43% | +59.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.60% | 57.18% | -19.58% |
Volatility
OWNB vs. MSTR - Volatility Comparison
The current volatility for Bitwise Bitcoin Standard Corporations ETF (OWNB) is 16.16%, while Strategy Inc (MSTR) has a volatility of 26.76%. This indicates that OWNB experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OWNB | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.16% | 26.76% | -10.60% |
Volatility (6M)Calculated over the trailing 6-month period | 43.50% | 61.05% | -17.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.30% | 74.29% | -15.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.20% | 90.78% | -28.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.20% | 74.25% | -12.05% |
Dividends
OWNB vs. MSTR - Dividend Comparison
OWNB's dividend yield for the trailing twelve months is around 1.08%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
MSTR Strategy Inc | 0.00% | 0.00% |
OWNB Bitwise Bitcoin Standard Corporations ETF | 1.08% | 0.87% |
Frequently Asked Questions
OWNB and MSTR have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (26.76%) compared to OWNB (16.16%). In terms of maximum drawdown, OWNB dropped -59.47% vs MSTR's -99.86%.
OWNB currently has the higher Sharpe Ratio (-0.88 vs -1.06), 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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