Correlation
The correlation between BITI and BTC-USD is -0.36. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
BITI vs. BTC-USD
Compare and contrast key facts about ProShares Shrt Bitcoin ETF (BITI) and Bitcoin (BTC-USD).
BITI is a passively managed fund by ProShares that tracks the performance of the Bloomberg Bitcoin Index (-100%). It was launched on Jun 21, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITI or BTC-USD.
Performance
BITI vs. BTC-USD - Performance Comparison
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Key characteristics
BITI:
-0.87
BTC-USD:
1.20
BITI:
-1.18
BTC-USD:
3.41
BITI:
0.86
BTC-USD:
1.36
BITI:
-0.51
BTC-USD:
2.96
BITI:
-1.26
BTC-USD:
13.38
BITI:
36.49%
BTC-USD:
11.18%
BITI:
53.53%
BTC-USD:
41.35%
BITI:
-91.14%
BTC-USD:
-93.18%
BITI:
-91.03%
BTC-USD:
-2.00%
Returns By Period
In the year-to-date period, BITI achieves a -19.32% return, which is significantly lower than BTC-USD's 17.14% return.
BITI
-19.32%
-13.19%
-22.07%
-46.37%
N/A
N/A
N/A
BTC-USD
17.14%
16.73%
18.98%
57.71%
56.36%
64.16%
84.68%
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Risk-Adjusted Performance
BITI vs. BTC-USD — Risk-Adjusted Performance Rank
BITI
BTC-USD
BITI vs. BTC-USD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Shrt Bitcoin ETF (BITI) 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.
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Drawdowns
BITI vs. BTC-USD - Drawdown Comparison
The maximum BITI drawdown since its inception was -91.14%, roughly equal to the maximum BTC-USD drawdown of -93.18%. Use the drawdown chart below to compare losses from any high point for BITI and BTC-USD.
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Volatility
BITI vs. BTC-USD - Volatility Comparison
The current volatility for ProShares Shrt Bitcoin ETF (BITI) is 8.86%, while Bitcoin (BTC-USD) has a volatility of 9.96%. This indicates that BITI 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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