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 7.27%/yr vs 19.96%/yr for COIN. Their 0.70 correlation means they have sometimes moved together and sometimes differently.
Performance
BITX vs. COIN - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -55.86% return, which is significantly lower than COIN's -33.35% return.
BITX
- 1D
- 1.33%
- 1M
- 7.54%
- 6M
- -40.22%
- YTD
- -55.86%
- 1Y
- -77.67%
- 3Y*
- 7.27%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.32%
COIN
- 1D
- 2.89%
- 1M
- -8.91%
- 6M
- -16.10%
- YTD
- -33.35%
- 1Y
- -52.63%
- 3Y*
- 19.96%
- 5Y*
- -10.02%
- 10Y*
- —
- ALL TIME*
- -16.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $86.64M | $96.04M | $116.27M | |
| $1.28B | $1.17B | $1.47B |
BITX vs. COIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -55.86% | -38.71% | 163.41% | 46.18% |
COIN Coinbase Global, Inc. | -33.35% | -8.92% | 42.77% | 180.79% |
Correlation
The correlation between BITX and COIN is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 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 0.78 - 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 | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.88 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.83 | -0.10 |
| Martin ratioReturn relative to average drawdown | -1.30 | -1.24 | -0.06 |
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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% | -63.57% | -19.88% |
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 | -80.49% | -64.09% | -16.40% |
Average DrawdownAverage peak-to-trough decline | -34.31% | -52.84% | +18.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.87% | 42.54% | +17.33% |
Volatility
BITX vs. COIN - Volatility Comparison
The current volatility for 2x Bitcoin Strategy ETF (BITX) is 16.15%, while Coinbase Global, Inc. (COIN) has a volatility of 19.94%. This indicates that BITX experiences smaller price fluctuations and is considered to be less risky 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 | 16.15% | 19.94% | -3.79% |
Volatility (6M)Calculated over the trailing 6-month period | 66.28% | 54.85% | +11.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.06% | 67.74% | +20.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.08% | 86.14% | +10.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.08% | 85.07% | +12.01% |
Dividends
BITX vs. COIN - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 26.77%, while COIN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 26.77% | 21.69% | 10.70% |
COIN Coinbase Global, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITX and COIN have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COIN has higher volatility (19.94%) compared to BITX (16.15%). In terms of maximum drawdown, BITX dropped -83.45% vs COIN's -91.46%.
COIN currently has the higher Sharpe Ratio (-0.78 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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