SBET vs. MSTR

Last updated Jun 4, 2026

SBET (SharpLink Gaming Ltd.) and MSTR (Strategy Inc) are both stocks. SBET operates in Gambling (Consumer Cyclical), while MSTR operates in Software - Application (Technology). Over the past year, SBET returned -88.98% vs -67.34% for MSTR. At a 0.33 correlation, their price movements are largely independent.

Performance

SBET vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SharpLink Gaming Ltd. (SBET) and Strategy Inc (MSTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBET achieves a -38.03% return, which is significantly lower than MSTR's -16.72% return.

SBET

• 1D: -4.65%
• 1M: -26.82%
• YTD: -38.03%
• 6M: -47.69%
• 1Y: -88.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTR

• 1D: -7.01%
• 1M: -31.15%
• YTD: -16.72%
• 6M: -32.83%
• 1Y: -67.34%
• 3Y*: 61.19%
• 5Y*: 21.16%
• 10Y*: 20.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SBET vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SBET SharpLink Gaming Ltd.	-38.03%	15.65%	-52.63%
MSTR Strategy Inc	-16.72%	-47.53%	322.17%

Correlation

The correlation between SBET and MSTR is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Feb 14, 2024	0.33

Over the past year, SBET and MSTR have become more correlated (0.67) than their long-term average of 0.33, meaning their price movements have been converging.

Fundamentals

EPS SBET : -$14.63 MSTR : -$40.19
PS Ratio SBET : 13.65 MSTR : 79.33
Total Revenue (TTM) SBET : $39.37M MSTR : $490.47M
Gross Profit (TTM) SBET : $37.65M MSTR : $334.08M
EBITDA (TTM) SBET : -$504.51M MSTR : $466.93M

Return for Risk

SBET vs. MSTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SBET

SBET Risk / Return Rank: 11
SBET Sharpe Ratio Rank: 14
SBET Sortino Ratio Rank: 13
SBET Omega Ratio Rank: 12
SBET Calmar Ratio Rank: 2
SBET Martin Ratio Rank: 17

MSTR

MSTR Risk / Return Rank: 6
MSTR Sharpe Ratio Rank: 5
MSTR Sortino Ratio Rank: 3
MSTR Omega Ratio Rank: 6
MSTR Calmar Ratio Rank: 7
MSTR Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SBET vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SharpLink Gaming Ltd. (SBET) 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.

	SBET	MSTR	Difference
Sharpe ratio Return per unit of total volatility	-0.62	-0.96	+0.34
Sortino ratio Return per unit of downside risk	-0.85	-1.75	+0.90
Omega ratio Gain probability vs. loss probability	0.88	0.81	+0.07
Calmar ratio Return relative to maximum drawdown	-0.98	-0.88	-0.10
Martin ratio Return relative to average drawdown	-1.12	-1.31	+0.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBET vs. MSTR - Sharpe Ratio Comparison

The current SBET Sharpe Ratio is -0.62, which is higher than the MSTR Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of SBET and MSTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SBET	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.62	-0.96	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	0.12	-0.23

Drawdowns

SBET vs. MSTR - Drawdown Comparison

The maximum SBET drawdown since its inception was -93.01%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for SBET and MSTR.

Drawdown Indicators

	SBET	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-93.01%	-99.86%	+6.85%
Max Drawdown (1Y) Largest decline over 1 year	-90.64%	-76.53%	-14.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-77.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-84.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.27%	—
Current Drawdown Current decline from peak	-93.01%	-73.29%	-19.72%
Average Drawdown Average peak-to-trough decline	-65.70%	-86.48%	+20.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	79.14%	51.59%	+27.55%

Volatility

SBET vs. MSTR - Volatility Comparison

SharpLink Gaming Ltd. (SBET) and Strategy Inc (MSTR) have volatilities of 18.65% and 19.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBET	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.65%	19.43%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	56.20%	56.49%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	143.78%	70.30%	+73.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	341.43%	90.79%	+250.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	341.43%	73.70%	+267.73%

Dividends

SBET vs. MSTR - Dividend Comparison

Neither SBET nor MSTR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both SBET and MSTR in my portfolio?

SBET and MSTR have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBET or MSTR?

MSTR has higher volatility (19.43%) compared to SBET (18.65%). In terms of maximum drawdown, SBET dropped -93.01% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

SBET currently has the higher Sharpe Ratio (-0.62 vs -0.96), 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.