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 year, BITX returned -74.00% vs -35.89% 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 -54.95% return, which is significantly lower than COIN's -27.42% return.
BITX
- 1D
- -5.55%
- 1M
- -40.63%
- YTD
- -54.95%
- 6M
- -60.56%
- 1Y
- -74.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COIN
- 1D
- 0.56%
- 1M
- -17.00%
- YTD
- -27.42%
- 6M
- -40.11%
- 1Y
- -35.89%
- 3Y*
- 40.88%
- 5Y*
- -6.43%
- 10Y*
- —
BITX vs. COIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -54.95% | -38.71% | 163.41% | 47.23% |
COIN Coinbase Global, Inc. | -27.42% | -8.92% | 42.77% | 148.85% |
Correlation
The correlation between BITX and COIN is 0.75, 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 | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023 | 0.70 |
The correlation between BITX and COIN has been stable across timeframes, ranging from 0.70 to 0.75 - 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.
| BITX | COIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.95 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.54 | -0.38 |
| Martin ratioReturn relative to average drawdown | -1.47 | -0.90 | -0.57 |
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 | COIN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | -0.51 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | -0.15 | +0.17 |
Drawdowns
BITX vs. COIN - Drawdown Comparison
The maximum BITX drawdown since its inception was -80.09%, smaller than the maximum COIN drawdown of -90.90%. 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 | -80.09% | -90.90% | +10.81% |
Max Drawdown (1Y)Largest decline over 1 year | -80.09% | -66.39% | -13.70% |
Max Drawdown (3Y)Largest decline over 3 years | — | -66.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.90% | — |
Current DrawdownCurrent decline from peak | -80.09% | -60.90% | -19.19% |
Average DrawdownAverage peak-to-trough decline | -31.77% | -49.84% | +18.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.28% | 39.86% | +10.42% |
Volatility
BITX vs. COIN - Volatility Comparison
2x Bitcoin Strategy ETF (BITX) and Coinbase Global, Inc. (COIN) have volatilities of 18.52% and 19.12%, 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 | COIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.52% | 19.12% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 68.11% | 50.97% | +17.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 86.90% | 70.03% | +16.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 98.26% | 85.85% | +12.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.26% | 85.36% | +12.90% |
Dividends
BITX vs. COIN - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 35.20%, while COIN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 35.20% | 21.69% | 10.70% |
COIN Coinbase Global, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITX and COIN have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COIN has higher volatility (19.12%) compared to BITX (18.52%). In terms of maximum drawdown, BITX dropped -80.09% vs COIN's -90.90%.
COIN currently has the higher Sharpe Ratio (-0.51 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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