^NDX vs. BTC-USD
^NDX (NASDAQ 100 Index) is an index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, ^NDX returned 20.95%/yr vs 57.23%/yr for BTC-USD. At a 0.13 correlation, their price movements are largely independent.
Performance
^NDX vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, ^NDX achieves a 17.37% return, which is significantly higher than BTC-USD's -26.27% return. Over the past 10 years, ^NDX has underperformed BTC-USD with an annualized return of 20.95%, while BTC-USD has yielded a comparatively higher 57.23% annualized return.
^NDX
- 1D
- 0.64%
- 1M
- 0.19%
- YTD
- 17.37%
- 6M
- 17.62%
- 1Y
- 37.01%
- 3Y*
- 25.76%
- 5Y*
- 16.18%
- 10Y*
- 20.95%
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
^NDX vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^NDX NASDAQ 100 Index | 17.37% | 20.17% | 24.88% | 53.81% | -32.97% | 26.63% | 47.58% | 37.96% | -1.04% | 31.52% |
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between ^NDX and BTC-USD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2012 | 0.13 |
Over the past year, ^NDX and BTC-USD have become more correlated (0.38) than their long-term average of 0.13, meaning their price movements have been converging.
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Return for Risk
^NDX vs. BTC-USD — Risk / Return Rank
^NDX
BTC-USD
^NDX vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Index (^NDX) and Bitcoin (BTC-USD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^NDX | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.96 | ||
| Sortino ratioReturn per unit of downside risk | +3.95 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.87 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | -0.77 | +3.69 |
| Martin ratioReturn relative to average drawdown | 10.85 | -1.33 | +12.18 |
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Drawdowns
^NDX vs. BTC-USD - Drawdown Comparison
The maximum ^NDX drawdown since its inception was -82.90%, roughly equal to the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for ^NDX and BTC-USD.
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Drawdown Indicators
| ^NDX | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.90% | -85.30% | +2.40% |
Max Drawdown (1Y)Largest decline over 1 year | -12.12% | -51.21% | +39.09% |
Max Drawdown (3Y)Largest decline over 3 years | -22.93% | -51.21% | +28.28% |
Max Drawdown (5Y)Largest decline over 5 years | -35.56% | -76.67% | +41.11% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -83.80% | +48.24% |
Current DrawdownCurrent decline from peak | -3.34% | -48.27% | +44.93% |
Average DrawdownAverage peak-to-trough decline | -24.61% | -42.36% | +17.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 35.16% | -31.90% |
Volatility
^NDX vs. BTC-USD - Volatility Comparison
The current volatility for NASDAQ 100 Index (^NDX) is 7.51%, while Bitcoin (BTC-USD) has a volatility of 11.97%. This indicates that ^NDX experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^NDX | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.51% | 11.97% | -4.46% |
Volatility (6M)Calculated over the trailing 6-month period | 13.84% | 34.64% | -20.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.29% | 35.59% | -18.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.76% | 44.57% | -21.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.61% | 56.61% | -34.00% |
Frequently Asked Questions
^NDX and BTC-USD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.97%) compared to ^NDX (7.51%). In terms of maximum drawdown, ^NDX dropped -82.90% vs BTC-USD's -85.30%.
^NDX currently has the higher Sharpe Ratio (2.05 vs -0.92), 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.
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