BTCE.DE vs. PNI.AX
BTCE.DE (ETC Group Physical Bitcoin) is Cryptocurrency fund actively managed by ETC Issuance, while PNI.AX (Pinnacle Investment Management Group Limited) is a stock. Over the past 5 years, BTCE.DE returned 10.38%/yr vs 9.46%/yr for PNI.AX. At a 0.12 correlation, their price movements are largely independent.
Performance
BTCE.DE vs. PNI.AX - Performance Comparison
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Different Trading Currencies
BTCE.DE is traded in EUR, while PNI.AX is traded in AUD. To make them comparable, the PNI.AX values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, BTCE.DE achieves a -27.02% return, which is significantly lower than PNI.AX's -1.89% return.
BTCE.DE
- 1D
- -3.79%
- 1M
- -20.74%
- YTD
- -27.02%
- 6M
- -28.97%
- 1Y
- -41.00%
- 3Y*
- 28.04%
- 5Y*
- 10.38%
- 10Y*
- —
PNI.AX
- 1D
- 1.56%
- 1M
- -0.03%
- YTD
- -1.89%
- 6M
- -0.08%
- 1Y
- -13.79%
- 3Y*
- 20.82%
- 5Y*
- 9.46%
- 10Y*
- 29.69%
BTCE.DE vs. PNI.AX - 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% | 162.37% |
PNI.AX Pinnacle Investment Management Group Limited | -1.89% | -26.64% | 126.16% | 16.42% | -42.44% | 128.19% | 79.75% |
Correlation
The correlation between BTCE.DE and PNI.AX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020 | 0.12 |
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Return for Risk
BTCE.DE vs. PNI.AX — Risk / Return Rank
BTCE.DE
PNI.AX
BTCE.DE vs. PNI.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and Pinnacle Investment Management Group Limited (PNI.AX). 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.
| BTCE.DE | PNI.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.97 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.37 | -0.47 |
| Martin ratioReturn relative to average drawdown | -1.46 | -0.60 | -0.86 |
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Drawdowns
BTCE.DE vs. PNI.AX - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, smaller than the maximum PNI.AX drawdown of -94.33%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and PNI.AX.
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Drawdown Indicators
| BTCE.DE | PNI.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -94.33% | +19.71% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -44.67% | -5.09% |
Max Drawdown (3Y)Largest decline over 3 years | -49.76% | -49.39% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | -63.52% | -11.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -72.58% | — |
Current DrawdownCurrent decline from peak | -49.27% | -37.50% | -11.77% |
Average DrawdownAverage peak-to-trough decline | -30.26% | -48.13% | +17.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 27.50% | +1.02% |
Volatility
BTCE.DE vs. PNI.AX - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) has a higher volatility of 9.82% compared to Pinnacle Investment Management Group Limited (PNI.AX) at 8.67%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than PNI.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCE.DE | PNI.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 8.67% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 33.13% | -1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 42.98% | -3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 42.91% | +9.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.83% | 45.25% | +12.58% |
Dividends
BTCE.DE vs. PNI.AX - Dividend Comparison
BTCE.DE has not paid dividends to shareholders, while PNI.AX's dividend yield for the trailing twelve months is around 1.72%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PNI.AX Pinnacle Investment Management Group Limited | 1.72% | 3.50% | 1.84% | 3.57% | 4.01% | 1.84% | 2.17% | 3.30% | 2.64% | 1.50% | 3.42% | 3.56% |
Frequently Asked Questions
BTCE.DE and PNI.AX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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