BITX vs. BTBT
BITX (2x Bitcoin Strategy ETF) is Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while BTBT (Bit Digital, Inc.) is a stock. Over the past year, BITX returned -73.21% vs -25.10% for BTBT. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
BITX vs. BTBT - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -52.31% return, which is significantly lower than BTBT's -2.12% return.
BITX
- 1D
- -5.39%
- 1M
- -34.65%
- YTD
- -52.31%
- 6M
- -58.66%
- 1Y
- -73.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTBT
- 1D
- -6.57%
- 1M
- 10.12%
- YTD
- -2.12%
- 6M
- -20.60%
- 1Y
- -25.10%
- 3Y*
- -15.53%
- 5Y*
- -25.75%
- 10Y*
- —
BITX vs. BTBT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -52.31% | -38.71% | 163.41% | 47.23% |
BTBT Bit Digital, Inc. | -2.12% | -35.49% | -30.73% | -5.58% |
Correlation
The correlation between BITX and BTBT is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023 | 0.63 |
The correlation between BITX and BTBT has been stable across timeframes, ranging from 0.62 to 0.63 - a consistent structural relationship.
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Return for Risk
BITX vs. BTBT — Risk / Return Rank
BITX
BTBT
BITX vs. BTBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and Bit Digital, Inc. (BTBT). 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.
| BITX | BTBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.02 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.36 | -0.57 |
| Martin ratioReturn relative to average drawdown | -1.46 | -0.58 | -0.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BITX | BTBT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | -0.27 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | -0.08 | +0.12 |
Drawdowns
BITX vs. BTBT - Drawdown Comparison
The maximum BITX drawdown since its inception was -78.92%, smaller than the maximum BTBT drawdown of -98.16%. Use the drawdown chart below to compare losses from any high point for BITX and BTBT.
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Drawdown Indicators
| BITX | BTBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.92% | -98.16% | +19.24% |
Max Drawdown (1Y)Largest decline over 1 year | -78.92% | -70.02% | -8.90% |
Max Drawdown (3Y)Largest decline over 3 years | — | -77.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -96.92% | — |
Current DrawdownCurrent decline from peak | -78.92% | -93.68% | +14.76% |
Average DrawdownAverage peak-to-trough decline | -31.70% | -75.51% | +43.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.03% | 43.63% | +6.40% |
Volatility
BITX vs. BTBT - Volatility Comparison
The current volatility for 2x Bitcoin Strategy ETF (BITX) is 19.24%, while Bit Digital, Inc. (BTBT) has a volatility of 33.79%. This indicates that BITX experiences smaller price fluctuations and is considered to be less risky than BTBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITX | BTBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.24% | 33.79% | -14.55% |
Volatility (6M)Calculated over the trailing 6-month period | 69.07% | 60.92% | +8.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 86.83% | 92.70% | -5.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 98.27% | 117.51% | -19.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.27% | 133.91% | -35.64% |
Dividends
BITX vs. BTBT - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 33.24%, while BTBT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 33.24% | 21.69% | 10.70% |
BTBT Bit Digital, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITX and BTBT have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTBT has higher volatility (33.79%) compared to BITX (19.24%). In terms of maximum drawdown, BITX dropped -78.92% vs BTBT's -98.16%.
BTBT currently has the higher Sharpe Ratio (-0.27 vs -0.85), 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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