BTC-USD vs. PHYS
BTC-USD (Bitcoin) is a cryptocurrency, while PHYS (Sprott Physical Gold Trust) is a stock. Over the past 10 years, BTC-USD returned 57.32%/yr vs 11.42%/yr for PHYS. At a 0.07 correlation, their price movements are largely independent.
Performance
BTC-USD vs. PHYS - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -27.32% return, which is significantly lower than PHYS's -3.85% return. Over the past 10 years, BTC-USD has outperformed PHYS with an annualized return of 57.32%, while PHYS has yielded a comparatively lower 11.42% annualized return.
BTC-USD
- 1D
- 0.05%
- 1M
- -19.79%
- YTD
- -27.32%
- 6M
- -29.56%
- 1Y
- -39.85%
- 3Y*
- 34.86%
- 5Y*
- 10.27%
- 10Y*
- 57.32%
PHYS
- 1D
- 0.19%
- 1M
- -10.61%
- YTD
- -3.85%
- 6M
- -3.47%
- 1Y
- 22.63%
- 3Y*
- 28.00%
- 5Y*
- 16.26%
- 10Y*
- 11.42%
BTC-USD vs. PHYS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -27.32% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
PHYS Sprott Physical Gold Trust | -3.85% | 63.95% | 26.43% | 12.98% | -1.81% | -4.84% | 23.89% | 18.14% | -2.64% | 12.78% |
Correlation
The correlation between BTC-USD and PHYS is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2012 | 0.07 |
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Return for Risk
BTC-USD vs. PHYS — Risk / Return Rank
BTC-USD
PHYS
BTC-USD vs. PHYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and Sprott Physical Gold Trust (PHYS). 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 | PHYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.17 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 0.92 | -1.69 |
| Martin ratioReturn relative to average drawdown | -1.36 | 2.64 | -4.00 |
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Drawdowns
BTC-USD vs. PHYS - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than PHYS's maximum drawdown of -48.16%. Use the drawdown chart below to compare losses from any high point for BTC-USD and PHYS.
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Drawdown Indicators
| BTC-USD | PHYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -48.16% | -37.14% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -24.80% | -26.41% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -24.80% | -26.41% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -24.80% | -51.87% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -24.80% | -59.00% |
Current DrawdownCurrent decline from peak | -49.01% | -22.43% | -26.58% |
Average DrawdownAverage peak-to-trough decline | -42.35% | -20.99% | -21.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.02% | 8.60% | +26.42% |
Volatility
BTC-USD vs. PHYS - Volatility Comparison
Bitcoin (BTC-USD) has a higher volatility of 12.11% compared to Sprott Physical Gold Trust (PHYS) at 7.80%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier than PHYS 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 | PHYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.11% | 7.80% | +4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 34.59% | 24.75% | +9.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.62% | 28.17% | +7.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.71% | 18.53% | +26.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.62% | 16.41% | +40.21% |
Frequently Asked Questions
BTC-USD and PHYS have a correlation of 0.16, 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 (12.11%) compared to PHYS (7.80%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs PHYS's -48.16%.
PHYS currently has the higher Sharpe Ratio (0.81 vs -0.93), 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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