AAVE-USD vs. BTC-USD
AAVE-USD (Aave) and BTC-USD (Bitcoin) are both cryptocurrencies. Over the past 5 years, AAVE-USD returned -29.68%/yr vs 11.35%/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 -56.87% return, which is significantly lower than BTC-USD's -29.97% return.
AAVE-USD
- 1D
- -11.74%
- 1M
- -33.35%
- YTD
- -56.87%
- 6M
- -65.75%
- 1Y
- -74.01%
- 3Y*
- 0.59%
- 5Y*
- -29.68%
- 10Y*
- —
BTC-USD
- 1D
- -3.97%
- 1M
- -24.76%
- YTD
- -29.97%
- 6M
- -31.42%
- 1Y
- -39.67%
- 3Y*
- 31.02%
- 5Y*
- 11.35%
- 10Y*
- 59.37%
AAVE-USD vs. BTC-USD - Yearly Performance Comparison
Correlation
The correlation between AAVE-USD and BTC-USD is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2020 | 0.63 |
The correlation between AAVE-USD and BTC-USD has been stable across timeframes, ranging from 0.63 to 0.72 - 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.
| AAVE-USD | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.87 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.78 | -0.12 |
| Martin ratioReturn relative to average drawdown | -1.46 | -1.39 | -0.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAVE-USD | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.87 | -0.93 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | 0.21 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 1.13 | -1.09 |
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 | -82.43% | -50.87% | -31.56% |
Max Drawdown (3Y)Largest decline over 3 years | -83.58% | -50.87% | -32.71% |
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 | -90.00% | -50.87% | -39.13% |
Average DrawdownAverage peak-to-trough decline | -68.44% | -42.29% | -26.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.16% | 34.02% | +19.14% |
Volatility
AAVE-USD vs. BTC-USD - Volatility Comparison
Aave (AAVE-USD) has a higher volatility of 19.39% compared to Bitcoin (BTC-USD) at 10.54%. 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 | 19.39% | 10.54% | +8.85% |
Volatility (6M)Calculated over the trailing 6-month period | 57.58% | 34.26% | +23.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.70% | 35.65% | +35.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.12% | 44.98% | +38.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,554.58% | 56.70% | +3,497.88% |
Frequently Asked Questions
AAVE-USD and BTC-USD have a correlation of 0.72, 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 (19.39%) compared to BTC-USD (10.54%). In terms of maximum drawdown, AAVE-USD dropped -92.10% vs BTC-USD's -85.30%.
AAVE-USD currently has the higher Sharpe Ratio (-0.87 vs -0.93), 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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