AAVE-USD vs. BTC-USD
AAVE-USD (Aave) and BTC-USD (Bitcoin) are both cryptocurrencies. Over the past 5 years, AAVE-USD returned -18.43%/yr vs 15.15%/yr for BTC-USD. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
AAVE-USD vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, AAVE-USD achieves a -37.29% return, which is significantly lower than BTC-USD's -27.04% return.
AAVE-USD
- 1D
- -4.48%
- 1M
- 20.55%
- 6M
- -46.78%
- YTD
- -37.29%
- 1Y
- -71.74%
- 3Y*
- 6.72%
- 5Y*
- -18.43%
- 10Y*
- —
BTC-USD
- 1D
- -1.36%
- 1M
- -2.71%
- 6M
- -33.22%
- YTD
- -27.04%
- 1Y
- -46.21%
- 3Y*
- 28.42%
- 5Y*
- 15.15%
- 10Y*
- 57.60%
AAVE-USD vs. BTC-USD - Yearly Performance Comparison
Correlation
The correlation between AAVE-USD and BTC-USD is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2020 | 0.63 |
The correlation between AAVE-USD and BTC-USD has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.
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Return for Risk
AAVE-USD vs. BTC-USD — Risk / Return Rank
AAVE-USD
BTC-USD
AAVE-USD vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aave (AAVE-USD) 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.
| AAVE-USD | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.84 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.87 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.26 | -1.40 | +0.14 |
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Drawdowns
AAVE-USD vs. BTC-USD - Drawdown Comparison
The maximum AAVE-USD drawdown since its inception was -92.10%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for AAVE-USD and BTC-USD.
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Drawdown Indicators
| AAVE-USD | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.10% | -85.30% | -6.80% |
Max Drawdown (1Y)Largest decline over 1 year | -82.96% | -53.08% | -29.88% |
Max Drawdown (3Y)Largest decline over 3 years | -84.08% | -53.08% | -31.00% |
Max Drawdown (5Y)Largest decline over 5 years | -88.40% | -76.67% | -11.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -85.46% | -48.82% | -36.64% |
Average DrawdownAverage peak-to-trough decline | -68.77% | -42.58% | -26.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.32% | 29.30% | +20.02% |
Volatility
AAVE-USD vs. BTC-USD - Volatility Comparison
Aave (AAVE-USD) has a higher volatility of 24.74% compared to Bitcoin (BTC-USD) at 9.78%. This indicates that AAVE-USD's price experiences larger fluctuations and is considered to be riskier 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
| AAVE-USD | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.74% | 9.78% | +14.96% |
Volatility (6M)Calculated over the trailing 6-month period | 59.16% | 34.90% | +24.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.49% | 35.73% | +34.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.02% | 43.96% | +38.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,519.10% | 56.33% | +3,462.77% |
Frequently Asked Questions
AAVE-USD and BTC-USD have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAVE-USD has higher volatility (24.74%) compared to BTC-USD (9.78%). In terms of maximum drawdown, AAVE-USD dropped -92.10% vs BTC-USD's -85.30%.
AAVE-USD currently has the higher Sharpe Ratio (-0.85 vs -1.07), 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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