BTC-USD vs. EZA
BTC-USD (Bitcoin) is a cryptocurrency, while EZA (iShares MSCI South Africa ETF) is Emerging Markets Equities fund tracking the MSCI South Africa Index. Over the past 10 years, BTC-USD returned 57.23%/yr vs 8.12%/yr for EZA. At a 0.08 correlation, their price movements are largely independent.
Performance
BTC-USD vs. EZA - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -26.27% return, which is significantly lower than EZA's -2.81% return. Over the past 10 years, BTC-USD has outperformed EZA with an annualized return of 57.23%, while EZA has yielded a comparatively lower 8.12% annualized return.
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
EZA
- 1D
- 0.89%
- 1M
- -5.12%
- YTD
- -2.81%
- 6M
- 2.77%
- 1Y
- 33.90%
- 3Y*
- 23.45%
- 5Y*
- 9.50%
- 10Y*
- 8.12%
BTC-USD vs. EZA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
EZA iShares MSCI South Africa ETF | -2.81% | 75.20% | 7.16% | 1.51% | -5.18% | 7.91% | -5.19% | 9.83% | -25.24% | 36.03% |
Correlation
The correlation between BTC-USD and EZA is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2012 | 0.08 |
Over the past year, BTC-USD and EZA have become more correlated (0.30) than their long-term average of 0.08, meaning their price movements have been converging.
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Return for Risk
BTC-USD vs. EZA — Risk / Return Rank
BTC-USD
EZA
BTC-USD vs. EZA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and iShares MSCI South Africa ETF (EZA). 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 | EZA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.87 | ||
| Sortino ratioReturn per unit of downside risk | -2.68 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.18 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.31 | -2.07 |
| Martin ratioReturn relative to average drawdown | -1.33 | 3.41 | -4.74 |
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Drawdowns
BTC-USD vs. EZA - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than EZA's maximum drawdown of -64.64%. Use the drawdown chart below to compare losses from any high point for BTC-USD and EZA.
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Drawdown Indicators
| BTC-USD | EZA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -64.64% | -20.66% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -23.31% | -27.90% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -23.31% | -27.90% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -34.94% | -41.73% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -62.25% | -21.55% |
Current DrawdownCurrent decline from peak | -48.27% | -18.05% | -30.22% |
Average DrawdownAverage peak-to-trough decline | -42.36% | -16.92% | -25.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.16% | 8.93% | +26.23% |
Volatility
BTC-USD vs. EZA - Volatility Comparison
Bitcoin (BTC-USD) has a higher volatility of 11.97% compared to iShares MSCI South Africa ETF (EZA) at 11.34%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier than EZA 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 | EZA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.97% | 11.34% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 34.64% | 27.03% | +7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.59% | 31.92% | +3.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.57% | 28.86% | +15.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.61% | 31.43% | +25.18% |
Frequently Asked Questions
BTC-USD and EZA have a correlation of 0.30, 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 (11.97%) compared to EZA (11.34%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs EZA's -64.64%.
EZA currently has the higher Sharpe Ratio (0.95 vs -0.92), 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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