CAN vs. BTC-USD
CAN (Canaan Inc.) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, CAN returned -46.98%/yr vs 12.68%/yr for BTC-USD. At a 0.39 correlation, their price movements are largely independent.
Performance
CAN vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, CAN achieves a -50.58% return, which is significantly lower than BTC-USD's -28.07% return.
CAN
- 1D
- -2.82%
- 1M
- -17.83%
- YTD
- -50.58%
- 6M
- -56.97%
- 1Y
- -43.98%
- 3Y*
- -44.91%
- 5Y*
- -46.98%
- 10Y*
- —
BTC-USD
- 1D
- -1.58%
- 1M
- -18.24%
- YTD
- -28.07%
- 6M
- -28.01%
- 1Y
- -40.30%
- 3Y*
- 27.25%
- 5Y*
- 12.68%
- 10Y*
- 57.41%
CAN vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CAN Canaan Inc. | -50.58% | -66.34% | -11.26% | 12.14% | -60.00% | -13.15% | -2.79% | -32.22% |
BTC-USD Bitcoin | -28.07% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | -11.79% |
Correlation
The correlation between CAN and BTC-USD is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year 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 0.54 (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 | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.86 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | -0.79 | +0.26 |
| Martin ratioReturn relative to average drawdown | -0.77 | -1.32 | +0.55 |
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Drawdowns
CAN vs. BTC-USD - Drawdown Comparison
The maximum CAN drawdown since its inception was -99.12%, 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 | -99.12% | -85.30% | -13.82% |
Max Drawdown (1Y)Largest decline over 1 year | -84.38% | -51.21% | -33.17% |
Max Drawdown (3Y)Largest decline over 3 years | -89.96% | -51.21% | -38.75% |
Max Drawdown (5Y)Largest decline over 5 years | -97.01% | -76.67% | -20.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -99.06% | -49.54% | -49.52% |
Average DrawdownAverage peak-to-trough decline | -83.82% | -42.40% | -41.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 57.17% | 31.29% | +25.88% |
Volatility
CAN vs. BTC-USD - Volatility Comparison
Canaan Inc. (CAN) has a higher volatility of 19.57% compared to Bitcoin (BTC-USD) at 12.23%. 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 | 19.57% | 12.23% | +7.34% |
Volatility (6M)Calculated over the trailing 6-month period | 60.78% | 34.57% | +26.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 119.58% | 35.70% | +83.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 111.24% | 44.26% | +66.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 126.20% | 56.41% | +69.79% |
Frequently Asked Questions
CAN and BTC-USD have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAN has higher volatility (19.57%) compared to BTC-USD (12.23%). In terms of maximum drawdown, CAN dropped -99.12% vs BTC-USD's -85.30%.
CAN currently has the higher Sharpe Ratio (-0.37 vs -0.94), 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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