BITW vs. ARBK
BITW (Bitwise 10 Crypto Index ETF) is Cryptocurrency fund tracking the Bitwise 10 Large Cap Crypto Index, while ARBK (Argo Blockchain plc) is a stock. Over the past 3 years, BITW returned 48.26%/yr vs 27.50%/yr for ARBK. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
BITW vs. ARBK - Performance Comparison
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Returns By Period
In the year-to-date period, BITW achieves a -31.06% return, which is significantly lower than ARBK's -16.13% return.
BITW
- 1D
- -2.78%
- 1M
- 2.56%
- 6M
- -27.22%
- YTD
- -31.06%
- 1Y
- -42.99%
- 3Y*
- 48.26%
- 5Y*
- -0.56%
- 10Y*
- —
- ALL TIME*
- 23.38%
ARBK
- 1D
- -1.72%
- 1M
- -15.38%
- 6M
- -29.56%
- YTD
- -16.13%
- 1Y
- 873.78%
- 3Y*
- 27.50%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -28.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $35.54K | $38.76K | $82.75K | |
| $1.41M | $1.46M | $2.56M |
BITW vs. ARBK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITW Bitwise 10 Crypto Index ETF | -31.06% | -2.63% | 160.69% | 331.10% | -85.92% | -15.47% |
ARBK Argo Blockchain plc | -16.13% | 503.54% | -84.89% | 246.30% | -91.12% | -18.99% |
Correlation
The correlation between BITW and ARBK is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.43 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021 | 0.45 |
Fundamentals
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Return for Risk
BITW vs. ARBK — Risk / Return Rank
BITW
ARBK
BITW vs. ARBK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index ETF (BITW) and Argo Blockchain plc (ARBK). 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.
| BITW | ARBK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -62.89 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 7.73 | -6.88 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 10.02 | -10.82 |
| Martin ratioReturn relative to average drawdown | -1.23 | 17.33 | -18.56 |
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Drawdowns
BITW vs. ARBK - Drawdown Comparison
The maximum BITW drawdown since its inception was -96.46%, roughly equal to the maximum ARBK drawdown of -99.31%. Use the drawdown chart below to compare losses from any high point for BITW and ARBK.
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Drawdown Indicators
| BITW | ARBK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.46% | -99.31% | +2.85% |
Max Drawdown (1Y)Largest decline over 1 year | -56.45% | -82.59% | +26.14% |
Max Drawdown (3Y)Largest decline over 3 years | -56.45% | -96.52% | +40.07% |
Max Drawdown (5Y)Largest decline over 5 years | -91.93% | — | — |
Current DrawdownCurrent decline from peak | -70.86% | -86.09% | +15.23% |
Average DrawdownAverage peak-to-trough decline | -69.58% | -84.03% | +14.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.89% | 47.65% | -10.76% |
Volatility
BITW vs. ARBK - Volatility Comparison
The current volatility for Bitwise 10 Crypto Index ETF (BITW) is 9.68%, while Argo Blockchain plc (ARBK) has a volatility of 12.16%. This indicates that BITW experiences smaller price fluctuations and is considered to be less risky than ARBK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITW | ARBK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.68% | 12.16% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 36.12% | 54.83% | -18.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.79% | 4,740.55% | -4,690.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.94% | 2,159.85% | -2,095.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 107.44% | 2,159.85% | -2,052.41% |
Dividends
BITW vs. ARBK - Dividend Comparison
Neither BITW nor ARBK has paid dividends to shareholders.
Frequently Asked Questions
BITW and ARBK have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARBK has higher volatility (12.16%) compared to BITW (9.68%). In terms of maximum drawdown, BITW dropped -96.46% vs ARBK's -99.31%.
ARBK currently has the higher Sharpe Ratio (0.17 vs -0.91), 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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