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 -33.18%/yr vs 5.01%/yr for BITX. Their 0.62 correlation means they have sometimes moved together and sometimes differently.
Performance
BTBT vs. BITX - Performance Comparison
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Returns By Period
In the year-to-date period, BTBT achieves a -30.69% return, which is significantly higher than BITX's -57.64% return.
BTBT
- 1D
- -7.75%
- 1M
- -20.61%
- 6M
- -35.47%
- YTD
- -30.69%
- 1Y
- -51.84%
- 3Y*
- -33.18%
- 5Y*
- -31.98%
- 10Y*
- —
- ALL TIME*
- -15.20%
BITX
- 1D
- -5.89%
- 1M
- 3.21%
- 6M
- -52.61%
- YTD
- -57.64%
- 1Y
- -77.94%
- 3Y*
- 5.01%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $90.28M | $99.74M | $121.60M | |
| $35.20M | $38.64M | $50.00M |
BTBT vs. BITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BTBT Bit Digital, Inc. | -30.69% | -35.49% | -30.73% | 5.49% |
BITX 2x Bitcoin Strategy ETF | -57.64% | -38.71% | 163.41% | 46.18% |
Correlation
The correlation between BTBT and BITX is 0.66, 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. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
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 0.66 - 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 | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.81 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.95 | +0.18 |
| Martin ratioReturn relative to average drawdown | -1.13 | -1.34 | +0.20 |
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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 | -71.33% | -83.45% | +12.12% |
Max Drawdown (3Y)Largest decline over 3 years | -78.08% | -83.45% | +5.37% |
Max Drawdown (5Y)Largest decline over 5 years | -96.92% | — | — |
Current DrawdownCurrent decline from peak | -95.52% | -81.28% | -14.24% |
Average DrawdownAverage peak-to-trough decline | -75.91% | -34.19% | -41.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.52% | 59.44% | -10.92% |
Volatility
BTBT vs. BITX - Volatility Comparison
Bit Digital, Inc. (BTBT) has a higher volatility of 28.14% compared to 2x Bitcoin Strategy ETF (BITX) at 17.98%. 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 | 28.14% | 17.98% | +10.16% |
Volatility (6M)Calculated over the trailing 6-month period | 65.86% | 67.72% | -1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.63% | 88.19% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 104.62% | 97.19% | +7.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 133.31% | 97.19% | +36.12% |
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 27.89%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 27.89% | 21.69% | 10.70% |
BTBT Bit Digital, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTBT and BITX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTBT has higher volatility (28.14%) compared to BITX (17.98%). In terms of maximum drawdown, BTBT dropped -98.16% vs BITX's -83.45%.
BTBT currently has the higher Sharpe Ratio (-0.62 vs -0.90), 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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