CAN vs. BTC-USD
CAN (Canaan Inc.) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, CAN returned -52.29%/yr vs 10.61%/yr for BTC-USD. Their 0.39 correlation means their historical movements had little consistent relationship.
Performance
CAN vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, CAN achieves a -75.36% return, which is significantly lower than BTC-USD's -27.75% return.
CAN
- 1D
- -30.24%
- 1M
- -40.04%
- 6M
- -75.00%
- YTD
- -75.36%
- 1Y
- -74.21%
- 3Y*
- -62.21%
- 5Y*
- -52.29%
- 10Y*
- —
- ALL TIME*
- -44.73%
BTC-USD
- 1D
- 0.72%
- 1M
- 1.12%
- 6M
- -17.79%
- YTD
- -27.75%
- 1Y
- -43.83%
- 3Y*
- 29.40%
- 5Y*
- 10.61%
- 10Y*
- 59.66%
- ALL TIME*
- 87.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTC-USD Bitcoin | $1569.44T | $1598.63T | $2087.37T |
CAN Canaan Inc. | $2.57M | $2.82M | $3.56M |
CAN vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CAN Canaan Inc. | -75.36% | -66.34% | -11.26% | 12.14% | -60.00% | -13.15% | -2.79% | -32.22% |
BTC-USD Bitcoin | -27.75% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | -11.79% |
Correlation
The correlation between CAN and BTC-USD is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.53 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2019 | 0.39 |
The correlation between CAN and BTC-USD shifts across timeframes, from 0.39 (all time) to 0.53 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CAN vs. BTC-USD — Risk / Return Rank
CAN
BTC-USD
CAN vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canaan Inc. (CAN) 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.
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.
| CAN | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.85 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.83 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.20 | -1.27 | +0.07 |
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Drawdowns
CAN vs. BTC-USD - Drawdown Comparison
The maximum CAN drawdown since its inception was -99.53%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for CAN and BTC-USD.
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Drawdown Indicators
| CAN | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.53% | -85.30% | -14.23% |
Max Drawdown (1Y)Largest decline over 1 year | -91.71% | -53.08% | -38.63% |
Max Drawdown (3Y)Largest decline over 3 years | -94.67% | -53.08% | -41.59% |
Max Drawdown (5Y)Largest decline over 5 years | -98.41% | -76.67% | -21.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -99.53% | -49.31% | -50.22% |
Average DrawdownAverage peak-to-trough decline | -84.07% | -42.73% | -41.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 62.97% | 24.94% | +38.03% |
Volatility
CAN vs. BTC-USD - Volatility Comparison
Canaan Inc. (CAN) has a higher volatility of 47.95% compared to Bitcoin (BTC-USD) at 8.45%. This indicates that CAN's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAN | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 47.95% | 8.45% | +39.50% |
Volatility (6M)Calculated over the trailing 6-month period | 73.73% | 33.72% | +40.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 119.68% | 35.86% | +83.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 111.90% | 43.65% | +68.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 126.48% | 56.22% | +70.26% |
Frequently Asked Questions
CAN and BTC-USD have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAN has higher volatility (47.95%) compared to BTC-USD (8.45%). In terms of maximum drawdown, CAN dropped -99.53% vs BTC-USD's -85.30%.
CAN currently has the higher Sharpe Ratio (-0.63 vs -1.02), 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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