BTC vs. ETH-USD
BTC (Grayscale Bitcoin Mini Trust ETF) is Cryptocurrency fund actively managed by Grayscale, while ETH-USD (Ethereum) is a cryptocurrency. Over the past year, BTC returned -46.27% vs -37.62% for ETH-USD. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
BTC vs. ETH-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BTC achieves a -26.28% return, which is significantly higher than ETH-USD's -36.61% return.
BTC
- 1D
- 3.74%
- 1M
- 1.49%
- 6M
- -31.73%
- YTD
- -26.28%
- 1Y
- -46.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETH-USD
- 1D
- 5.97%
- 1M
- 9.03%
- 6M
- -43.41%
- YTD
- -36.61%
- 1Y
- -37.62%
- 3Y*
- -0.89%
- 5Y*
- -0.39%
- 10Y*
- 66.05%
BTC vs. ETH-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTC Grayscale Bitcoin Mini Trust ETF | -26.28% | -7.50% | 41.93% |
ETH-USD Ethereum | -36.61% | -10.91% | 1.59% |
Correlation
The correlation between BTC and ETH-USD is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024 | 0.60 |
The correlation between BTC and ETH-USD has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.
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Return for Risk
BTC vs. ETH-USD — Risk / Return Rank
BTC
ETH-USD
BTC vs. ETH-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Mini Trust ETF (BTC) and Ethereum (ETH-USD). 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 | ETH-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.95 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | -0.56 | -0.31 |
| Martin ratioReturn relative to average drawdown | -1.41 | -0.86 | -0.55 |
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Drawdowns
BTC vs. ETH-USD - Drawdown Comparison
The maximum BTC drawdown since its inception was -53.30%, smaller than the maximum ETH-USD drawdown of -94.01%. Use the drawdown chart below to compare losses from any high point for BTC and ETH-USD.
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Drawdown Indicators
| BTC | ETH-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.30% | -94.01% | +40.71% |
Max Drawdown (1Y)Largest decline over 1 year | -53.30% | -67.60% | +14.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -67.60% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -79.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -94.01% | — |
Current DrawdownCurrent decline from peak | -48.62% | -61.08% | +12.46% |
Average DrawdownAverage peak-to-trough decline | -18.61% | -51.00% | +32.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.80% | 36.57% | -3.77% |
Volatility
BTC vs. ETH-USD - Volatility Comparison
The current volatility for Grayscale Bitcoin Mini Trust ETF (BTC) is 11.65%, while Ethereum (ETH-USD) has a volatility of 13.66%. This indicates that BTC experiences smaller price fluctuations and is considered to be less risky than ETH-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTC | ETH-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.65% | 13.66% | -2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 34.96% | 46.50% | -11.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.40% | 55.39% | -10.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.00% | 58.73% | -10.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.00% | 76.80% | -28.80% |
Frequently Asked Questions
BTC and ETH-USD have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETH-USD has higher volatility (13.66%) compared to BTC (11.65%). In terms of maximum drawdown, BTC dropped -53.30% vs ETH-USD's -94.01%.
ETH-USD currently has the higher Sharpe Ratio (-0.56 vs -1.05), 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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