BTC-USD vs. APP
BTC-USD (Bitcoin) is a cryptocurrency, while APP (AppLovin Corporation) is a stock. Over the past 5 years, BTC-USD returned 10.30%/yr vs 43.23%/yr for APP. At a 0.23 correlation, their price movements are largely independent.
Performance
BTC-USD vs. APP - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BTC-USD having a -25.06% return and APP slightly lower at -26.28%.
BTC-USD
- 1D
- 2.42%
- 1M
- -17.06%
- YTD
- -25.06%
- 6M
- -25.64%
- 1Y
- -37.83%
- 3Y*
- 36.87%
- 5Y*
- 10.30%
- 10Y*
- 55.97%
APP
- 1D
- 3.80%
- 1M
- -0.84%
- YTD
- -26.28%
- 6M
- -25.93%
- 1Y
- 36.29%
- 3Y*
- 180.45%
- 5Y*
- 43.23%
- 10Y*
- —
BTC-USD vs. APP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -25.06% | -6.27% | 120.76% | 155.82% | -64.23% | -26.62% |
APP AppLovin Corporation | -26.28% | 108.08% | 712.62% | 278.44% | -88.83% | 34.66% |
Correlation
The correlation between BTC-USD and APP is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.23 |
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Return for Risk
BTC-USD vs. APP — Risk / Return Rank
BTC-USD
APP
BTC-USD vs. APP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and AppLovin Corporation (APP). 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.
| BTC-USD | APP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -2.22 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.13 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 0.61 | -1.35 |
| Martin ratioReturn relative to average drawdown | -1.28 | 1.22 | -2.51 |
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Drawdowns
BTC-USD vs. APP - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, smaller than the maximum APP drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for BTC-USD and APP.
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Drawdown Indicators
| BTC-USD | APP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -91.90% | +6.60% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -49.99% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -57.00% | +5.79% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -91.90% | +15.23% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | — | — |
Current DrawdownCurrent decline from peak | -47.43% | -32.28% | -15.15% |
Average DrawdownAverage peak-to-trough decline | -42.37% | -42.52% | +0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.28% | 25.10% | +10.18% |
Volatility
BTC-USD vs. APP - Volatility Comparison
The current volatility for Bitcoin (BTC-USD) is 12.10%, while AppLovin Corporation (APP) has a volatility of 20.54%. This indicates that BTC-USD experiences smaller price fluctuations and is considered to be less risky than APP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTC-USD | APP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.10% | 20.54% | -8.44% |
Volatility (6M)Calculated over the trailing 6-month period | 34.64% | 58.87% | -24.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.63% | 71.03% | -35.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.55% | 77.84% | -33.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.61% | 77.53% | -20.92% |
Frequently Asked Questions
BTC-USD and APP have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APP has higher volatility (20.54%) compared to BTC-USD (12.10%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs APP's -91.90%.
APP currently has the higher Sharpe Ratio (0.43 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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