TLX vs. MSTR

Last updated Jun 4, 2026

TLX (Telix Pharmaceuticals Ltd) and MSTR (Strategy Inc) are both stocks. TLX operates in Biotechnology (Healthcare), while MSTR operates in Software - Application (Technology). Over the past year, TLX returned -48.32% vs -67.34% for MSTR. At a 0.18 correlation, their price movements are largely independent.

Performance

TLX vs. MSTR - Performance Comparison

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

Returns By Period

In the year-to-date period, TLX achieves a 17.09% return, which is significantly higher than MSTR's -16.72% return.

TLX

• 1D: -4.26%
• 1M: -21.35%
• YTD: 17.09%
• 6M: -9.21%
• 1Y: -48.32%
• 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)

TLX vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TLX Telix Pharmaceuticals Ltd	17.09%	-51.36%	1.65%
MSTR Strategy Inc	-16.72%	-47.53%	-11.61%

Correlation

The correlation between TLX and MSTR is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Nov 15, 2024	0.18

Fundamentals

Market Cap TLX : $2.97B MSTR : $42.26B
EPS TLX : $0.12 MSTR : -$40.19
PS Ratio TLX : 1.48 MSTR : 79.33
PB Ratio TLX : 4.77 MSTR : 1.15
Total Revenue (TTM) TLX : $2.00B MSTR : $490.47M
Gross Profit (TTM) TLX : $1.13B MSTR : $334.08M
EBITDA (TTM) TLX : $153.71M MSTR : $466.93M

Return for Risk

TLX vs. MSTR — Risk / Return Rank

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

TLX

TLX Risk / Return Rank: 12
TLX Sharpe Ratio Rank: 8
TLX Sortino Ratio Rank: 9
TLX Omega Ratio Rank: 11
TLX Calmar Ratio Rank: 13
TLX 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.

TLX vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Telix Pharmaceuticals Ltd (TLX) 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.

	TLX	MSTR	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	-0.96	+0.13
Sortino ratio: Return per unit of downside risk	-1.19	-1.75	+0.56
Omega ratio: Gain probability vs. loss probability	0.86	0.81	+0.05
Calmar ratio: Return relative to maximum drawdown	-0.77	-0.88	+0.12
Martin ratio: Return relative to average drawdown	-1.12	-1.31	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLX vs. MSTR - Sharpe Ratio Comparison

The current TLX Sharpe Ratio is -0.83, which is comparable to the MSTR Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of TLX 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

	TLX	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.83	-0.96	+0.13
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	-0.53	0.12	-0.65

Drawdowns

TLX vs. MSTR - Drawdown Comparison

The maximum TLX drawdown since its inception was -69.37%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for TLX and MSTR.

Drawdown Indicators

	TLX	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-69.37%	-99.86%	+30.49%
Max Drawdown (1Y) Largest decline over 1 year	-63.33%	-76.53%	+13.20%
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	-58.10%	-73.29%	+15.19%
Average Drawdown Average peak-to-trough decline	-36.51%	-86.48%	+49.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.36%	51.59%	-8.23%

Volatility

TLX vs. MSTR - Volatility Comparison

The current volatility for Telix Pharmaceuticals Ltd (TLX) is 12.21%, while Strategy Inc (MSTR) has a volatility of 19.43%. This indicates that TLX 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

	TLX	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.21%	19.43%	-7.22%
Volatility (6M) Calculated over the trailing 6-month period	40.70%	56.49%	-15.79%
Volatility (1Y) Calculated over the trailing 1-year period	58.24%	70.30%	-12.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.09%	90.79%	-33.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.09%	73.70%	-16.61%

Dividends

TLX vs. MSTR - Dividend Comparison

Neither TLX nor MSTR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both TLX and MSTR in my portfolio?

TLX and MSTR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLX or MSTR?

MSTR has higher volatility (19.43%) compared to TLX (12.21%). In terms of maximum drawdown, TLX dropped -69.37% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

TLX currently has the higher Sharpe Ratio (-0.83 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.