BTBT vs. BITX
BTBT (Bit Digital, Inc.) is a stock, while BITX (2x Bitcoin Strategy ETF) is Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%). Over the past 3 years, BTBT returned -25.64%/yr vs 2.58%/yr for BITX. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
BTBT vs. BITX - Performance Comparison
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Returns By Period
In the year-to-date period, BTBT achieves a -10.58% return, which is significantly higher than BITX's -55.76% return.
BTBT
- 1D
- 0.60%
- 1M
- -2.87%
- 6M
- -22.83%
- YTD
- -10.58%
- 1Y
- -49.25%
- 3Y*
- -25.64%
- 5Y*
- -21.39%
- 10Y*
- —
BITX
- 1D
- 2.27%
- 1M
- -0.84%
- 6M
- -58.05%
- YTD
- -55.76%
- 1Y
- -79.24%
- 3Y*
- 2.58%
- 5Y*
- —
- 10Y*
- —
BTBT vs. BITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BTBT Bit Digital, Inc. | -10.58% | -35.49% | -30.73% | 5.49% |
BITX 2x Bitcoin Strategy ETF | -55.76% | -38.71% | 163.41% | 46.18% |
Correlation
The correlation between BTBT and BITX is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | 0.62 |
The correlation between BTBT and BITX has been stable across timeframes, ranging from 0.62 to 0.63 - a consistent structural relationship.
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Return for Risk
BTBT vs. BITX — Risk / Return Rank
BTBT
BITX
BTBT vs. BITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bit Digital, Inc. (BTBT) and 2x Bitcoin Strategy ETF (BITX). 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.
| BTBT | BITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.82 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | -0.93 | +0.20 |
| Martin ratioReturn relative to average drawdown | -1.09 | -1.38 | +0.29 |
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Drawdowns
BTBT vs. BITX - Drawdown Comparison
The maximum BTBT drawdown since its inception was -98.16%, which is greater than BITX's maximum drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for BTBT and BITX.
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Drawdown Indicators
| BTBT | BITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -83.45% | -14.71% |
Max Drawdown (1Y)Largest decline over 1 year | -70.02% | -83.45% | +13.43% |
Max Drawdown (3Y)Largest decline over 3 years | -77.08% | -83.45% | +6.37% |
Max Drawdown (5Y)Largest decline over 5 years | -96.92% | — | — |
Current DrawdownCurrent decline from peak | -94.23% | -80.45% | -13.78% |
Average DrawdownAverage peak-to-trough decline | -75.77% | -33.28% | -42.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.98% | 56.14% | -9.16% |
Volatility
BTBT vs. BITX - Volatility Comparison
Bit Digital, Inc. (BTBT) has a higher volatility of 23.40% compared to 2x Bitcoin Strategy ETF (BITX) at 21.94%. This indicates that BTBT's price experiences larger fluctuations and is considered to be riskier than BITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTBT | BITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.40% | 21.94% | +1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 61.83% | 69.61% | -7.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.40% | 88.20% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 117.51% | 97.80% | +19.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 133.46% | 97.80% | +35.66% |
Dividends
BTBT vs. BITX - Dividend Comparison
BTBT has not paid dividends to shareholders, while BITX's dividend yield for the trailing twelve months is around 31.59%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 31.59% | 21.69% | 10.70% |
BTBT Bit Digital, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTBT and BITX 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.
BTBT has higher volatility (23.40%) compared to BITX (21.94%). In terms of maximum drawdown, BTBT dropped -98.16% vs BITX's -83.45%.
BTBT currently has the higher Sharpe Ratio (-0.58 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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