BITX vs. BBAI
BITX (2x Bitcoin Strategy ETF) is Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while BBAI (BigBear.ai Holdings, Inc.) is a stock. Over the past year, BITX returned -77.36% vs -32.70% for BBAI. At a 0.32 correlation, their price movements are largely independent.
Performance
BITX vs. BBAI - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -60.88% return, which is significantly lower than BBAI's -34.81% return.
BITX
- 1D
- -7.86%
- 1M
- -39.39%
- YTD
- -60.88%
- 6M
- -60.78%
- 1Y
- -77.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BBAI
- 1D
- -6.63%
- 1M
- -15.79%
- YTD
- -34.81%
- 6M
- -41.63%
- 1Y
- -32.70%
- 3Y*
- 14.58%
- 5Y*
- —
- 10Y*
- —
BITX vs. BBAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -60.88% | -38.71% | 163.41% | 46.18% |
BBAI BigBear.ai Holdings, Inc. | -34.81% | 21.35% | 107.94% | -6.14% |
Correlation
The correlation between BITX and BBAI is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | 0.32 |
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Return for Risk
BITX vs. BBAI — Risk / Return Rank
BITX
BBAI
BITX vs. BBAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and BigBear.ai Holdings, Inc. (BBAI). 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.
| BITX | BBAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.00 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -0.50 | -0.44 |
| Martin ratioReturn relative to average drawdown | -1.45 | -0.81 | -0.64 |
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Drawdowns
BITX vs. BBAI - Drawdown Comparison
The maximum BITX drawdown since its inception was -82.71%, smaller than the maximum BBAI drawdown of -95.01%. Use the drawdown chart below to compare losses from any high point for BITX and BBAI.
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Drawdown Indicators
| BITX | BBAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.71% | -95.01% | +12.30% |
Max Drawdown (1Y)Largest decline over 1 year | -82.71% | -65.88% | -16.83% |
Max Drawdown (3Y)Largest decline over 3 years | — | -75.56% | — |
Current DrawdownCurrent decline from peak | -82.71% | -72.26% | -10.45% |
Average DrawdownAverage peak-to-trough decline | -32.57% | -70.79% | +38.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.48% | 40.42% | +13.06% |
Volatility
BITX vs. BBAI - Volatility Comparison
2x Bitcoin Strategy ETF (BITX) has a higher volatility of 26.63% compared to BigBear.ai Holdings, Inc. (BBAI) at 24.20%. This indicates that BITX's price experiences larger fluctuations and is considered to be riskier than BBAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITX | BBAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.63% | 24.20% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 69.36% | 54.88% | +14.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.22% | 96.66% | -8.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 98.22% | 174.15% | -75.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.22% | 174.15% | -75.93% |
Dividends
BITX vs. BBAI - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 40.74%, while BBAI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BBAI BigBear.ai Holdings, Inc. | 0.00% | 0.00% | 0.00% |
BITX 2x Bitcoin Strategy ETF | 40.74% | 21.69% | 10.70% |
Frequently Asked Questions
BITX and BBAI have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITX has higher volatility (26.63%) compared to BBAI (24.20%). In terms of maximum drawdown, BITX dropped -82.71% vs BBAI's -95.01%.
BBAI currently has the higher Sharpe Ratio (-0.35 vs -0.88), 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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