BITX vs. COIN
BITX (2x Bitcoin Strategy ETF) is Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while COIN (Coinbase Global, Inc.) is a stock. Over the past 3 years, BITX returned 4.82%/yr vs 16.66%/yr for COIN. A 0.70 correlation means they provide meaningful diversification when combined.
Performance
BITX vs. COIN - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -54.42% return, which is significantly lower than COIN's -26.06% return.
BITX
- 1D
- 1.29%
- 1M
- -6.42%
- 6M
- -63.06%
- YTD
- -54.42%
- 1Y
- -77.95%
- 3Y*
- 4.82%
- 5Y*
- —
- 10Y*
- —
COIN
- 1D
- 3.54%
- 1M
- -1.42%
- 6M
- -34.65%
- YTD
- -26.06%
- 1Y
- -56.91%
- 3Y*
- 16.66%
- 5Y*
- -5.77%
- 10Y*
- —
BITX vs. COIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -54.42% | -38.71% | 163.41% | 46.18% |
COIN Coinbase Global, Inc. | -26.06% | -8.92% | 42.77% | 180.79% |
Correlation
The correlation between BITX and COIN is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | 0.70 |
The correlation between BITX and COIN has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.
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Return for Risk
BITX vs. COIN — Risk / Return Rank
BITX
COIN
BITX vs. COIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and Coinbase Global, Inc. (COIN). 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 | COIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.86 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -0.86 | -0.08 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.27 | -0.10 |
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Drawdowns
BITX vs. COIN - Drawdown Comparison
The maximum BITX drawdown since its inception was -83.45%, smaller than the maximum COIN drawdown of -91.46%. Use the drawdown chart below to compare losses from any high point for BITX and COIN.
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Drawdown Indicators
| BITX | COIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.45% | -91.46% | +8.01% |
Max Drawdown (1Y)Largest decline over 1 year | -83.45% | -66.39% | -17.06% |
Max Drawdown (3Y)Largest decline over 3 years | -83.45% | -66.39% | -17.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.90% | — |
Current DrawdownCurrent decline from peak | -79.85% | -60.17% | -19.68% |
Average DrawdownAverage peak-to-trough decline | -33.47% | -52.75% | +19.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.82% | 44.73% | +12.09% |
Volatility
BITX vs. COIN - Volatility Comparison
2x Bitcoin Strategy ETF (BITX) has a higher volatility of 23.26% compared to Coinbase Global, Inc. (COIN) at 17.17%. This indicates that BITX's price experiences larger fluctuations and is considered to be riskier than COIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITX | COIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.26% | 17.17% | +6.09% |
Volatility (6M)Calculated over the trailing 6-month period | 70.16% | 52.98% | +17.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.16% | 67.63% | +20.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.75% | 85.94% | +11.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.75% | 85.13% | +12.62% |
Dividends
BITX vs. COIN - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 30.66%, while COIN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 30.66% | 21.69% | 10.70% |
COIN Coinbase Global, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITX and COIN have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITX has higher volatility (23.26%) compared to COIN (17.17%). In terms of maximum drawdown, BITX dropped -83.45% vs COIN's -91.46%.
COIN currently has the higher Sharpe Ratio (-0.84 vs -0.89), 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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