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 -78.67% vs -17.87% 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 -61.72% return, which is significantly lower than BTBT's 2.12% return.
BITX
- 1D
- -2.13%
- 1M
- -40.88%
- YTD
- -61.72%
- 6M
- -61.62%
- 1Y
- -78.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTBT
- 1D
- 0.00%
- 1M
- -3.02%
- YTD
- 2.12%
- 6M
- -9.39%
- 1Y
- -17.87%
- 3Y*
- -21.63%
- 5Y*
- -21.68%
- 10Y*
- —
BITX vs. BTBT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -61.72% | -38.71% | 163.41% | 46.18% |
BTBT Bit Digital, Inc. | 2.12% | -35.49% | -30.73% | 5.49% |
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 27, 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.
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 | BTBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.04 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.26 | -0.69 |
| Martin ratioReturn relative to average drawdown | -1.46 | -0.39 | -1.07 |
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Drawdowns
BITX vs. BTBT - Drawdown Comparison
The maximum BITX drawdown since its inception was -83.08%, 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 | -83.08% | -98.16% | +15.08% |
Max Drawdown (1Y)Largest decline over 1 year | -83.08% | -70.02% | -13.06% |
Max Drawdown (3Y)Largest decline over 3 years | -83.08% | -77.08% | -6.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -96.92% | — |
Current DrawdownCurrent decline from peak | -83.08% | -93.41% | +10.33% |
Average DrawdownAverage peak-to-trough decline | -32.64% | -75.68% | +43.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.73% | 45.54% | +8.19% |
Volatility
BITX vs. BTBT - Volatility Comparison
2x Bitcoin Strategy ETF (BITX) and Bit Digital, Inc. (BTBT) have volatilities of 26.48% and 26.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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 | 26.48% | 26.17% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 69.36% | 61.79% | +7.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.09% | 93.48% | -5.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 98.17% | 117.60% | -19.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.17% | 133.69% | -35.52% |
Dividends
BITX vs. BTBT - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 41.63%, while BTBT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 41.63% | 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.
BITX has higher volatility (26.48%) compared to BTBT (26.17%). In terms of maximum drawdown, BITX dropped -83.08% vs BTBT's -98.16%.
BTBT currently has the higher Sharpe Ratio (-0.19 vs -0.90), 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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