SAP vs. MSTR
SAP (SAP SE) and MSTR (Strategy Inc) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 10 years, SAP returned 9.16%/yr vs 19.62%/yr for MSTR. At a 0.35 correlation, their price movements are largely independent.
Performance
SAP vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, SAP achieves a -35.76% return, which is significantly lower than MSTR's -31.66% return. Over the past 10 years, SAP has underperformed MSTR with an annualized return of 9.16%, while MSTR has yielded a comparatively higher 19.62% annualized return.
SAP
- 1D
- 2.59%
- 1M
- -12.83%
- YTD
- -35.76%
- 6M
- -36.30%
- 1Y
- -46.34%
- 3Y*
- 6.09%
- 5Y*
- 3.26%
- 10Y*
- 9.16%
MSTR
- 1D
- -5.13%
- 1M
- -35.06%
- YTD
- -31.66%
- 6M
- -34.23%
- 1Y
- -71.72%
- 3Y*
- 46.67%
- 5Y*
- 12.28%
- 10Y*
- 19.62%
SAP vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAP SAP SE | -35.76% | -0.48% | 61.27% | 52.30% | -24.64% | 9.22% | -1.28% | 36.43% | -10.04% | 31.25% |
MSTR Strategy Inc | -31.66% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
Correlation
The correlation between SAP and MSTR is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 1998 | 0.35 |
The correlation between SAP and MSTR shifts across timeframes, from 0.23 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
SAP:
$179.15B
MSTR:
$34.67B
SAP:
€6.13
MSTR:
-$40.19
SAP:
4.22
MSTR:
65.10
SAP:
3.49
MSTR:
0.95
SAP:
€37.34B
MSTR:
$490.47M
SAP:
€27.51B
MSTR:
$334.08M
SAP:
€12.97B
MSTR:
$466.93M
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Return for Risk
SAP vs. MSTR — Risk / Return Rank
SAP
MSTR
SAP vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SAP SE (SAP) 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.
| SAP | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 0.80 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | -0.93 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.58 | -1.32 | -0.26 |
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Drawdowns
SAP vs. MSTR - Drawdown Comparison
The maximum SAP drawdown since its inception was -87.91%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for SAP and MSTR.
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Drawdown Indicators
| SAP | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.91% | -99.86% | +11.95% |
Max Drawdown (1Y)Largest decline over 1 year | -51.24% | -77.22% | +25.98% |
Max Drawdown (3Y)Largest decline over 3 years | -51.24% | -78.08% | +26.84% |
Max Drawdown (5Y)Largest decline over 5 years | -51.24% | -84.11% | +32.87% |
Max Drawdown (10Y)Largest decline over 10 years | -51.31% | -89.27% | +37.96% |
Current DrawdownCurrent decline from peak | -49.97% | -78.08% | +28.11% |
Average DrawdownAverage peak-to-trough decline | -28.26% | -86.44% | +58.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.26% | 54.24% | -24.98% |
Volatility
SAP vs. MSTR - Volatility Comparison
The current volatility for SAP SE (SAP) is 14.56%, while Strategy Inc (MSTR) has a volatility of 22.01%. This indicates that SAP 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
| SAP | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.56% | 22.01% | -7.45% |
Volatility (6M)Calculated over the trailing 6-month period | 31.18% | 57.60% | -26.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.69% | 72.03% | -37.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.90% | 90.57% | -61.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.29% | 73.91% | -45.62% |
Dividends
SAP vs. MSTR - Dividend Comparison
SAP's dividend yield for the trailing twelve months is around 1.91%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SAP SAP SE | 1.91% | 1.05% | 0.97% | 1.41% | 2.05% | 1.56% | 1.31% | 1.27% | 1.73% | 0.87% | 1.08% | 1.11% |
Financials
SAP vs. MSTR - Financials Comparison
This section allows you to compare key financial metrics between SAP SE and Strategy Inc. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
SAP and MSTR have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (22.01%) compared to SAP (14.56%). In terms of maximum drawdown, SAP dropped -87.91% vs MSTR's -99.86%.
MSTR currently has the higher Sharpe Ratio (-1.00 vs -1.34), 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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