AGQ vs. BTC-USD
AGQ (ProShares Ultra Silver) is Silver fund tracking the Bloomberg Silver Subindex (200%), while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, AGQ returned 4.34%/yr vs 56.92%/yr for BTC-USD. At a 0.10 correlation, their price movements are largely independent.
Performance
AGQ vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, AGQ achieves a -58.02% return, which is significantly lower than BTC-USD's -31.91% return. Over the past 10 years, AGQ has underperformed BTC-USD with an annualized return of 4.34%, while BTC-USD has yielded a comparatively higher 56.92% annualized return.
AGQ
- 1D
- 2.17%
- 1M
- -45.30%
- YTD
- -58.02%
- 6M
- -61.16%
- 1Y
- 35.08%
- 3Y*
- 34.09%
- 5Y*
- 7.22%
- 10Y*
- 4.34%
BTC-USD
- 1D
- -2.31%
- 1M
- -21.43%
- YTD
- -31.91%
- 6M
- -31.66%
- 1Y
- -44.53%
- 3Y*
- 25.32%
- 5Y*
- 13.04%
- 10Y*
- 56.92%
AGQ vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -58.02% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
BTC-USD Bitcoin | -31.91% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between AGQ and BTC-USD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2012 | 0.10 |
The correlation between AGQ and BTC-USD shifts across timeframes, from 0.10 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AGQ vs. BTC-USD — Risk / Return Rank
AGQ
BTC-USD
AGQ vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) 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.
| AGQ | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +2.82 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.84 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | -0.85 | +1.27 |
| Martin ratioReturn relative to average drawdown | 0.79 | -1.45 | +2.24 |
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Drawdowns
AGQ vs. BTC-USD - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, 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 AGQ and BTC-USD.
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Drawdown Indicators
| AGQ | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -85.30% | -12.86% |
Max Drawdown (1Y)Largest decline over 1 year | -84.08% | -52.23% | -31.85% |
Max Drawdown (3Y)Largest decline over 3 years | -84.08% | -52.23% | -31.85% |
Max Drawdown (5Y)Largest decline over 5 years | -84.08% | -76.67% | -7.41% |
Max Drawdown (10Y)Largest decline over 10 years | -84.08% | -83.80% | -0.28% |
Current DrawdownCurrent decline from peak | -91.09% | -52.23% | -38.86% |
Average DrawdownAverage peak-to-trough decline | -79.87% | -42.42% | -37.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.27% | 31.57% | +12.70% |
Volatility
AGQ vs. BTC-USD - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 31.74% compared to Bitcoin (BTC-USD) at 12.44%. This indicates that AGQ'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
| AGQ | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.74% | 12.44% | +19.30% |
Volatility (6M)Calculated over the trailing 6-month period | 135.91% | 34.75% | +101.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 124.44% | 35.63% | +88.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.81% | 44.15% | +31.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.28% | 56.40% | +9.88% |
Frequently Asked Questions
AGQ and BTC-USD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGQ has higher volatility (31.74%) compared to BTC-USD (12.44%). In terms of maximum drawdown, AGQ dropped -98.16% vs BTC-USD's -85.30%.
AGQ currently has the higher Sharpe Ratio (0.28 vs -1.04), 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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