BTCE.DE vs. BTC-USD
BTCE.DE (ETC Group Physical Bitcoin) is Cryptocurrency fund actively managed by ETC Issuance, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, BTCE.DE returned 10.38%/yr vs 12.48%/yr for BTC-USD. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
BTCE.DE vs. BTC-USD - Performance Comparison
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Different Trading Currencies
BTCE.DE is traded in EUR, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with BTCE.DE having a -27.02% return and BTC-USD slightly higher at -26.78%.
BTCE.DE
- 1D
- -3.79%
- 1M
- -21.28%
- YTD
- -27.02%
- 6M
- -31.67%
- 1Y
- -41.65%
- 3Y*
- 28.04%
- 5Y*
- 10.38%
- 10Y*
- —
BTC-USD
- 1D
- -1.22%
- 1M
- -21.18%
- YTD
- -26.78%
- 6M
- -31.03%
- 1Y
- -40.54%
- 3Y*
- 31.42%
- 5Y*
- 12.48%
- 10Y*
- 59.35%
BTCE.DE vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | -27.02% | -18.20% | 125.79% | 146.52% | -63.89% | 81.36% | 164.73% |
BTC-USD Bitcoin | -26.78% | -17.40% | 136.59% | 145.80% | -61.85% | 71.33% | 183.51% |
Correlation
The correlation between BTCE.DE and BTC-USD is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2020 | 0.56 |
The correlation between BTCE.DE and BTC-USD has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.
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Return for Risk
BTCE.DE vs. BTC-USD — Risk / Return Rank
BTCE.DE
BTC-USD
BTCE.DE vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and Bitcoin (BTC-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.
| BTCE.DE | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.86 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.81 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.46 | -1.44 | -0.02 |
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
| BTCE.DE | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | -0.95 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.23 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 1.13 | -0.55 |
Drawdowns
BTCE.DE vs. BTC-USD - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, smaller than the maximum BTC-USD drawdown of -83.05%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and BTC-USD.
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Drawdown Indicators
| BTCE.DE | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -83.05% | +8.43% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -49.93% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -49.76% | -49.93% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | -73.60% | -1.02% |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.51% | — |
Current DrawdownCurrent decline from peak | -49.27% | -48.78% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -30.28% | -39.96% | +9.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 33.68% | -5.16% |
Volatility
BTCE.DE vs. BTC-USD - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) and Bitcoin (BTC-USD) have volatilities of 9.82% and 10.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCE.DE | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 10.14% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 34.46% | -3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 35.39% | +4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 45.05% | +7.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.85% | 55.99% | +1.86% |
Frequently Asked Questions
BTCE.DE and BTC-USD have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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