BITC.AS vs. BTC-USD
BITC.AS (CoinShares Physical Bitcoin (BTC) ETP) is Cryptocurrency fund actively managed by CoinShares, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 3 years, BITC.AS returned 29.34%/yr vs 31.42%/yr for BTC-USD. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
BITC.AS vs. BTC-USD - Performance Comparison
Loading charts...
Different Trading Currencies
BITC.AS is traded in EUR, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with BITC.AS having a -27.10% return and BTC-USD slightly higher at -26.78%.
BITC.AS
- 1D
- -3.60%
- 1M
- -21.05%
- YTD
- -27.10%
- 6M
- -31.00%
- 1Y
- -40.51%
- 3Y*
- 29.34%
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -1.22%
- 1M
- -21.18%
- YTD
- -26.78%
- 6M
- -31.03%
- 1Y
- -40.54%
- 3Y*
- 31.42%
- 5Y*
- 12.48%
- 10Y*
- 59.35%
BITC.AS vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITC.AS CoinShares Physical Bitcoin (BTC) ETP | -27.10% | -17.17% | 136.40% | 79.86% |
BTC-USD Bitcoin | -26.78% | -17.40% | 136.59% | 80.79% |
Correlation
The correlation between BITC.AS and BTC-USD is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023 | 0.51 |
The correlation between BITC.AS and BTC-USD shifts across timeframes, from 0.51 (all time) to 0.61 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BITC.AS vs. BTC-USD — Risk / Return Rank
BITC.AS
BTC-USD
BITC.AS vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) 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.
| BITC.AS | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.86 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.81 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.43 | -1.44 | +0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BITC.AS | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.02 | -0.95 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.23 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 1.13 | -0.43 |
Drawdowns
BITC.AS vs. BTC-USD - Drawdown Comparison
The maximum BITC.AS drawdown since its inception was -49.38%, smaller than the maximum BTC-USD drawdown of -83.05%. Use the drawdown chart below to compare losses from any high point for BITC.AS and BTC-USD.
Loading charts...
Drawdown Indicators
| BITC.AS | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.38% | -83.05% | +33.67% |
Max Drawdown (1Y)Largest decline over 1 year | -49.38% | -49.93% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -49.38% | -49.93% | +0.55% |
Max Drawdown (5Y)Largest decline over 5 years | — | -73.60% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.51% | — |
Current DrawdownCurrent decline from peak | -48.60% | -48.78% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -13.09% | -39.96% | +26.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.31% | 33.68% | -5.37% |
Volatility
BITC.AS vs. BTC-USD - Volatility Comparison
CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) and Bitcoin (BTC-USD) have volatilities of 9.70% and 10.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BITC.AS | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.70% | 10.14% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 29.08% | 34.46% | -5.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.42% | 35.39% | +4.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.64% | 45.05% | +0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.64% | 55.99% | -10.35% |
Frequently Asked Questions
BITC.AS and BTC-USD have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for BITC.AS and BTC-USD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer