MARA vs MSTR: Correlation
Measured on weekly returns over the past three years, MARA Holdings, Inc. (MARA) and Strategy Inc (MSTR) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MARA and MSTR?
Across a 3-year window, the weekly returns of MARA and MSTR correlate at 0.52, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.52 over 3. Stretching to 5 years gives 0.67, with an annualized covariance of 3785.7 %².
Among the 21 assets we track against MARA, MSTR ranks #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MARA ahead by 34.7 points (-25.1% versus -59.8%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
MARA vs MSTR: side by side
| MARA (MARA Holdings, Inc.) | MSTR (Strategy Inc) | |
|---|---|---|
| 1-year return | -25.1% | -59.8% |
| 5-year return | -70.7% | +95.5% |
| Volatility (ann.) | 83.9% | 87.2% |
| Beta vs S&P 500 | 2.07 | 1.49 |
| Max drawdown (3Y) | -78.3% | -82.6% |
| Market cap | $4.6B | $54.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MARA | MSTR |
|---|---|---|
| 2022 | -89.6% | -74.0% |
| 2023 | +586.8% | +346.2% |
| 2024 | -28.6% | +358.5% |
| 2025 | -46.5% | -47.5% |
| 2026 | +32.2% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MARA and MSTR good diversifiers for each other?
Only partially. A correlation of 0.52 means MARA and MSTR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MARA and MSTR?
The MARA/MSTR correlation stands at 0.52 on a 3-year window (1 year: 0.52, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is MSTR a good diversifier for MARA?
Only partially. A correlation of 0.52 means MARA and MSTR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mara-vs-mstr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mara-vs-mstr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MARA correlations · MSTR correlations
