BTC-USD vs. DAX
BTC-USD (Bitcoin) is a cryptocurrency, while DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index. Over the past 10 years, BTC-USD returned 59.68%/yr vs 9.21%/yr for DAX. At a 0.15 correlation, their price movements are largely independent.
Performance
BTC-USD vs. DAX - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -28.54% return, which is significantly lower than DAX's -2.02% return. Over the past 10 years, BTC-USD has outperformed DAX with an annualized return of 59.68%, while DAX has yielded a comparatively lower 9.21% annualized return.
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
DAX
- 1D
- -0.07%
- 1M
- -1.60%
- YTD
- -2.02%
- 6M
- 0.86%
- 1Y
- 1.43%
- 3Y*
- 17.37%
- 5Y*
- 7.56%
- 10Y*
- 9.21%
BTC-USD vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
DAX Global X DAX Germany ETF | -2.02% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Correlation
The correlation between BTC-USD and DAX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | 0.15 |
Over the past year, BTC-USD and DAX have become more correlated (0.37) than their long-term average of 0.15, meaning their price movements have been converging.
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Return for Risk
BTC-USD vs. DAX — Risk / Return Rank
BTC-USD
DAX
BTC-USD vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and Global X DAX Germany ETF (DAX). 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.
| BTC-USD | DAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.03 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 0.10 | -0.90 |
| Martin ratioReturn relative to average drawdown | -1.42 | 0.30 | -1.72 |
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
| BTC-USD | DAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.95 | 0.08 | -1.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.37 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.44 | +0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.34 | +0.79 |
Drawdowns
BTC-USD vs. DAX - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for BTC-USD and DAX.
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Drawdown Indicators
| BTC-USD | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -45.58% | -39.72% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -14.82% | -36.39% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -16.03% | -35.18% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -39.72% | -36.95% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -45.58% | -38.22% |
Current DrawdownCurrent decline from peak | -49.86% | -5.93% | -43.93% |
Average DrawdownAverage peak-to-trough decline | -42.32% | -10.50% | -31.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.46% | 4.71% | +29.75% |
Volatility
BTC-USD vs. DAX - Volatility Comparison
Bitcoin (BTC-USD) has a higher volatility of 11.59% compared to Global X DAX Germany ETF (DAX) at 5.30%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier than DAX 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 | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.59% | 5.30% | +6.29% |
Volatility (6M)Calculated over the trailing 6-month period | 34.53% | 14.59% | +19.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.67% | 17.86% | +17.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.95% | 20.41% | +24.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.71% | 21.28% | +35.43% |
Frequently Asked Questions
BTC-USD and DAX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.59%) compared to DAX (5.30%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs DAX's -45.58%.
DAX currently has the higher Sharpe Ratio (0.08 vs -0.95), 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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