BITO vs. 1816.HK
BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares, while 1816.HK (CGN Power) is a stock. Over the past 3 years, BITO returned 21.57%/yr vs 19.07%/yr for 1816.HK. At a 0.04 correlation, their price movements are largely independent.
Performance
BITO vs. 1816.HK - Performance Comparison
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Different Trading Currencies
BITO is traded in USD, while 1816.HK is traded in HKD. To make them comparable, the 1816.HK values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BITO achieves a -26.94% return, which is significantly lower than 1816.HK's 0.63% return.
BITO
- 1D
- 1.50%
- 1M
- 3.17%
- 6M
- -33.00%
- YTD
- -26.94%
- 1Y
- -46.65%
- 3Y*
- 21.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.51%
1816.HK
- 1D
- 5.52%
- 1M
- 0.34%
- 6M
- -5.63%
- YTD
- 0.63%
- 1Y
- 4.32%
- 3Y*
- 19.07%
- 5Y*
- 15.82%
- 10Y*
- 6.60%
- ALL TIME*
- 2.07%
BITO vs. 1816.HK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | -26.94% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
1816.HK CGN Power | 0.63% | 6.86% | 45.27% | 15.27% | -17.71% | 8.46% |
Correlation
The correlation between BITO and 1816.HK is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.04 |
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Return for Risk
BITO vs. 1816.HK — Risk / Return Rank
BITO
1816.HK
BITO vs. 1816.HK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and CGN Power (1816.HK). 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.
| BITO | 1816.HK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.09 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.05 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 0.16 | -1.02 |
| Martin ratioReturn relative to average drawdown | -1.37 | 0.44 | -1.80 |
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Drawdowns
BITO vs. 1816.HK - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, which is greater than 1816.HK's maximum drawdown of -68.30%. Use the drawdown chart below to compare losses from any high point for BITO and 1816.HK.
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Drawdown Indicators
| BITO | 1816.HK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.86% | -68.30% | -9.56% |
Max Drawdown (1Y)Largest decline over 1 year | -54.47% | -27.17% | -27.30% |
Max Drawdown (3Y)Largest decline over 3 years | -54.47% | -35.10% | -19.37% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.10% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.10% | — |
Current DrawdownCurrent decline from peak | -49.61% | -20.80% | -28.81% |
Average DrawdownAverage peak-to-trough decline | -37.08% | -46.90% | +9.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.20% | 10.08% | +24.12% |
Volatility
BITO vs. 1816.HK - Volatility Comparison
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 10.30% compared to CGN Power (1816.HK) at 8.03%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than 1816.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITO | 1816.HK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.30% | 8.03% | +2.27% |
Volatility (6M)Calculated over the trailing 6-month period | 34.26% | 20.18% | +14.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.13% | 26.56% | +17.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.76% | 30.39% | +24.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.76% | 26.54% | +28.22% |
Dividends
BITO vs. 1816.HK - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 59.56%, more than 1816.HK's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
1816.HK CGN Power | 3.42% | 3.52% | 3.62% | 4.74% | 5.31% | 4.08% | 4.97% | 4.05% | 4.48% | 2.73% | 2.34% | 0.11% |
BITO ProShares Bitcoin Strategy ETF | 59.56% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITO and 1816.HK have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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