BITX vs. MARA
BITX (2x Bitcoin Strategy ETF) is Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while MARA (MARA Holdings, Inc.) is a stock. Over the past 3 years, BITX returned 6.79%/yr vs -9.46%/yr for MARA. Their 0.66 correlation means they have sometimes moved together and sometimes differently.
Performance
BITX vs. MARA - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -56.44% return, which is significantly lower than MARA's 30.85% return.
BITX
- 1D
- 2.83%
- 1M
- 6.13%
- 6M
- -43.47%
- YTD
- -56.44%
- 1Y
- -77.31%
- 3Y*
- 6.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.89%
MARA
- 1D
- 3.80%
- 1M
- -5.24%
- 6M
- 28.84%
- YTD
- 30.85%
- 1Y
- -24.19%
- 3Y*
- -9.46%
- 5Y*
- -16.37%
- 10Y*
- -12.86%
- ALL TIME*
- -10.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $88.24M | $96.85M | $117.71M | |
| $610.94M | $585.08M | $582.06M |
BITX vs. MARA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -56.44% | -38.71% | 163.41% | 46.18% |
MARA MARA Holdings, Inc. | 30.85% | -46.45% | -28.61% | 99.24% |
Correlation
The correlation between BITX and MARA is 0.63, 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. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | 0.66 |
The correlation between BITX and MARA has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.
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Return for Risk
BITX vs. MARA — Risk / Return Rank
BITX
MARA
BITX vs. MARA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and MARA Holdings, Inc. (MARA). 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 | MARA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.01 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.34 | -0.58 |
| Martin ratioReturn relative to average drawdown | -1.30 | -0.54 | -0.76 |
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Drawdowns
BITX vs. MARA - Drawdown Comparison
The maximum BITX drawdown since its inception was -83.45%, smaller than the maximum MARA drawdown of -99.74%. Use the drawdown chart below to compare losses from any high point for BITX and MARA.
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Drawdown Indicators
| BITX | MARA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.45% | -99.74% | +16.29% |
Max Drawdown (1Y)Largest decline over 1 year | -83.45% | -70.53% | -12.92% |
Max Drawdown (3Y)Largest decline over 3 years | -83.45% | -78.34% | -5.11% |
Max Drawdown (5Y)Largest decline over 5 years | — | -95.87% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.19% | — |
Current DrawdownCurrent decline from peak | -80.75% | -92.41% | +11.66% |
Average DrawdownAverage peak-to-trough decline | -34.25% | -78.13% | +43.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.65% | 44.83% | +14.82% |
Volatility
BITX vs. MARA - Volatility Comparison
The current volatility for 2x Bitcoin Strategy ETF (BITX) is 17.57%, while MARA Holdings, Inc. (MARA) has a volatility of 30.75%. This indicates that BITX experiences smaller price fluctuations and is considered to be less risky than MARA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITX | MARA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.57% | 30.75% | -13.18% |
Volatility (6M)Calculated over the trailing 6-month period | 67.80% | 64.16% | +3.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.21% | 82.55% | +5.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.14% | 106.06% | -8.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.14% | 144.48% | -47.34% |
Dividends
BITX vs. MARA - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 27.12%, while MARA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 27.12% | 21.69% | 10.70% |
MARA MARA Holdings, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITX and MARA have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MARA has higher volatility (30.75%) compared to BITX (17.57%). In terms of maximum drawdown, BITX dropped -83.45% vs MARA's -99.74%.
MARA currently has the higher Sharpe Ratio (-0.29 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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