ULBI vs. MSTR

Last updated Jun 4, 2026

ULBI (Ultralife Corporation) and MSTR (Strategy Inc) are both stocks. ULBI operates in Electrical Equipment & Parts (Industrials), while MSTR operates in Software - Application (Technology). Over the past 10 years, ULBI returned 4.85%/yr vs 20.96%/yr for MSTR. At a 0.15 correlation, their price movements are largely independent.

Performance

ULBI vs. MSTR - Performance Comparison

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

Returns By Period

In the year-to-date period, ULBI achieves a 20.72% return, which is significantly higher than MSTR's -16.72% return. Over the past 10 years, ULBI has underperformed MSTR with an annualized return of 4.85%, while MSTR has yielded a comparatively higher 20.96% annualized return.

ULBI

• 1D: -2.88%
• 1M: 4.31%
• YTD: 20.72%
• 6M: 22.21%
• 1Y: -4.76%
• 3Y*: 14.67%
• 5Y*: -5.76%
• 10Y*: 4.85%

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)

ULBI vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ULBI Ultralife Corporation	20.72%	-23.22%	9.24%	76.68%	-36.09%	-6.65%	-12.45%	9.48%	3.05%	32.32%
MSTR Strategy Inc	-16.72%	-47.53%	358.54%	346.15%	-74.00%	40.13%	172.42%	11.65%	-2.70%	-33.49%

Correlation

The correlation between ULBI and MSTR is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jun 12, 1998	0.15

The correlation between ULBI and MSTR shifts across timeframes, from 0.15 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ULBI : $115.02M MSTR : $42.26B
EPS ULBI : -$0.49 MSTR : -$40.19
PS Ratio ULBI : 0.61 MSTR : 79.33
PB Ratio ULBI : 0.89 MSTR : 1.15
Total Revenue (TTM) ULBI : $187.86M MSTR : $490.47M
Gross Profit (TTM) ULBI : $43.39M MSTR : $334.08M
EBITDA (TTM) ULBI : $6.73M MSTR : $466.93M

Return for Risk

ULBI vs. MSTR — Risk / Return Rank

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

ULBI

ULBI Risk / Return Rank: 37
ULBI Sharpe Ratio Rank: 37
ULBI Sortino Ratio Rank: 37
ULBI Omega Ratio Rank: 37
ULBI Calmar Ratio Rank: 37
ULBI Martin Ratio Rank: 37

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.

ULBI vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ultralife Corporation (ULBI) 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.

	ULBI	MSTR	Difference
Sharpe ratio Return per unit of total volatility	-0.08	-0.96	+0.88
Sortino ratio Return per unit of downside risk	0.30	-1.75	+2.05
Omega ratio Gain probability vs. loss probability	1.04	0.81	+0.22
Calmar ratio Return relative to maximum drawdown	-0.11	-0.88	+0.77
Martin ratio Return relative to average drawdown	-0.17	-1.31	+1.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ULBI vs. MSTR - Sharpe Ratio Comparison

The current ULBI Sharpe Ratio is -0.08, which is higher than the MSTR Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of ULBI 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

	ULBI	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.08	-0.96	+0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.23	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	0.29	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.12	-0.15

Drawdowns

ULBI vs. MSTR - Drawdown Comparison

The maximum ULBI drawdown since its inception was -92.90%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for ULBI and MSTR.

Drawdown Indicators

	ULBI	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-92.90%	-99.86%	+6.96%
Max Drawdown (1Y) Largest decline over 1 year	-44.69%	-76.53%	+31.84%
Max Drawdown (3Y) Largest decline over 3 years	-68.83%	-77.42%	+8.59%
Max Drawdown (5Y) Largest decline over 5 years	-68.83%	-84.11%	+15.28%
Max Drawdown (10Y) Largest decline over 10 years	-68.83%	-89.27%	+20.44%
Current Drawdown Current decline from peak	-71.82%	-73.29%	+1.47%
Average Drawdown Average peak-to-trough decline	-63.48%	-86.48%	+23.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.26%	51.59%	-24.33%

Volatility

ULBI vs. MSTR - Volatility Comparison

Ultralife Corporation (ULBI) has a higher volatility of 25.54% compared to Strategy Inc (MSTR) at 19.43%. This indicates that ULBI's price experiences larger fluctuations and is considered to be riskier than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULBI	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.54%	19.43%	+6.11%
Volatility (6M) Calculated over the trailing 6-month period	41.68%	56.49%	-14.81%
Volatility (1Y) Calculated over the trailing 1-year period	58.55%	70.30%	-11.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.02%	90.79%	-31.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.19%	73.70%	-18.51%

Dividends

ULBI vs. MSTR - Dividend Comparison

Neither ULBI nor MSTR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both ULBI and MSTR in my portfolio?

ULBI and MSTR have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ULBI or MSTR?

ULBI has higher volatility (25.54%) compared to MSTR (19.43%). In terms of maximum drawdown, ULBI dropped -92.90% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

ULBI currently has the higher Sharpe Ratio (-0.08 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.