SYRE vs. MSTR

Last updated Jun 3, 2026

SYRE (Spyre Therapeutics Inc.) and MSTR (Strategy Inc) are both stocks. SYRE operates in Biotechnology (Healthcare), while MSTR operates in Software - Application (Technology). Over the past 10 years, SYRE returned -9.61%/yr vs 21.84%/yr for MSTR. At a 0.20 correlation, their price movements are largely independent.

Performance

SYRE vs. MSTR - Performance Comparison

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

Returns By Period

In the year-to-date period, SYRE achieves a 111.11% return, which is significantly higher than MSTR's -10.44% return. Over the past 10 years, SYRE has underperformed MSTR with an annualized return of -9.61%, while MSTR has yielded a comparatively higher 21.84% annualized return.

SYRE

• 1D: -1.96%
• 1M: -0.37%
• YTD: 111.11%
• 6M: 143.52%
• 1Y: 349.09%
• 3Y*: 178.55%
• 5Y*: -16.21%
• 10Y*: -9.61%

MSTR

• 1D: -9.15%
• 1M: -23.19%
• YTD: -10.44%
• 6M: -24.95%
• 1Y: -63.45%
• 3Y*: 65.15%
• 5Y*: 22.73%
• 10Y*: 21.84%

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

SYRE vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SYRE Spyre Therapeutics Inc.	111.11%	40.72%	8.18%	91.33%	-90.53%	-39.64%	3.01%	2.00%	38.45%	24.37%
MSTR Strategy Inc	-10.44%	-47.53%	358.54%	346.15%	-74.00%	40.13%	172.42%	11.65%	-2.70%	-33.49%

Correlation

The correlation between SYRE 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	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Apr 8, 2016	0.20

Fundamentals

Market Cap SYRE : $23.93B MSTR : $45.44B
EPS SYRE : -$0.88 MSTR : -$40.19
PS Ratio SYRE : 155.37 MSTR : 85.31
PB Ratio SYRE : 45.64 MSTR : 1.24
Total Revenue (TTM) SYRE : $90.49M MSTR : $490.47M
Gross Profit (TTM) SYRE : $0.00 MSTR : $334.08M
EBITDA (TTM) SYRE : -$171.29M MSTR : $466.93M

Return for Risk

SYRE vs. MSTR — Risk / Return Rank

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

SYRE

SYRE Risk / Return Rank: 98
SYRE Sharpe Ratio Rank: 99
SYRE Sortino Ratio Rank: 97
SYRE Omega Ratio Rank: 95
SYRE Calmar Ratio Rank: 99
SYRE Martin Ratio Rank: 99

MSTR

MSTR Risk / Return Rank: 8
MSTR Sharpe Ratio Rank: 6
MSTR Sortino Ratio Rank: 5
MSTR Omega Ratio Rank: 7
MSTR Calmar Ratio Rank: 9
MSTR Martin Ratio Rank: 12

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.

SYRE vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spyre Therapeutics Inc. (SYRE) 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.

	SYRE	MSTR	Difference
Sharpe ratio Return per unit of total volatility	5.18	-0.91	+6.09
Sortino ratio Return per unit of downside risk	4.87	-1.55	+6.42
Omega ratio Gain probability vs. loss probability	1.58	0.83	+0.75
Calmar ratio Return relative to maximum drawdown	16.87	-0.82	+17.69
Martin ratio Return relative to average drawdown	41.14	-1.23	+42.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SYRE vs. MSTR - Sharpe Ratio Comparison

The current SYRE Sharpe Ratio is 5.18, which is higher than the MSTR Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of SYRE 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

	SYRE	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.18	-0.91	+6.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	0.25	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.07	0.30	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	0.13	-0.21

Drawdowns

SYRE vs. MSTR - Drawdown Comparison

The maximum SYRE drawdown since its inception was -99.11%, roughly equal to the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for SYRE and MSTR.

Drawdown Indicators

	SYRE	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-99.11%	-99.86%	+0.75%
Max Drawdown (1Y) Largest decline over 1 year	-20.91%	-76.53%	+55.62%
Max Drawdown (3Y) Largest decline over 3 years	-73.99%	-77.42%	+3.43%
Max Drawdown (5Y) Largest decline over 5 years	-98.74%	-84.11%	-14.63%
Max Drawdown (10Y) Largest decline over 10 years	-99.04%	-89.27%	-9.77%
Current Drawdown Current decline from peak	-76.93%	-71.28%	-5.65%
Average Drawdown Average peak-to-trough decline	-62.66%	-86.48%	+23.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.57%	51.39%	-42.82%

Volatility

SYRE vs. MSTR - Volatility Comparison

The current volatility for Spyre Therapeutics Inc. (SYRE) is 14.50%, while Strategy Inc (MSTR) has a volatility of 19.27%. This indicates that SYRE 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.

Volatility by Period

	SYRE	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.50%	19.27%	-4.77%
Volatility (6M) Calculated over the trailing 6-month period	45.83%	56.14%	-10.31%
Volatility (1Y) Calculated over the trailing 1-year period	67.95%	69.99%	-2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	178.98%	90.74%	+88.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	136.30%	73.68%	+62.62%

Dividends

SYRE vs. MSTR - Dividend Comparison

Neither SYRE nor MSTR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both SYRE and MSTR in my portfolio?

SYRE 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.

Which is riskier, SYRE or MSTR?

MSTR has higher volatility (19.27%) compared to SYRE (14.50%). In terms of maximum drawdown, SYRE dropped -99.11% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

SYRE currently has the higher Sharpe Ratio (5.18 vs -0.91), 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.