CIFR vs. FBTC
CIFR (Cipher Digital Inc.) is a stock, while FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. Over the past year, CIFR returned 538.02% vs -40.63% for FBTC. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
CIFR vs. FBTC - Performance Comparison
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Returns By Period
In the year-to-date period, CIFR achieves a 65.99% return, which is significantly higher than FBTC's -27.39% return.
CIFR
- 1D
- 8.26%
- 1M
- 15.35%
- YTD
- 65.99%
- 6M
- 43.70%
- 1Y
- 538.02%
- 3Y*
- 113.71%
- 5Y*
- —
- 10Y*
- —
FBTC
- 1D
- 0.11%
- 1M
- -20.13%
- YTD
- -27.39%
- 6M
- -29.64%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CIFR vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CIFR Cipher Digital Inc. | 65.99% | 218.10% | 22.43% |
FBTC Fidelity Wise Origin Bitcoin Fund | -27.39% | -6.56% | 94.28% |
Correlation
The correlation between CIFR and FBTC is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.51 |
The correlation between CIFR and FBTC has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.
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Return for Risk
CIFR vs. FBTC — Risk / Return Rank
CIFR
FBTC
CIFR vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cipher Digital Inc. (CIFR) and Fidelity Wise Origin Bitcoin Fund (FBTC). 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.
| CIFR | FBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.90 | ||
| Sortino ratioReturn per unit of downside risk | +5.16 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 0.85 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 10.56 | -0.78 | +11.35 |
| Martin ratioReturn relative to average drawdown | 21.19 | -1.37 | +22.56 |
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Drawdowns
CIFR vs. FBTC - Drawdown Comparison
The maximum CIFR drawdown since its inception was -97.16%, which is greater than FBTC's maximum drawdown of -52.07%. Use the drawdown chart below to compare losses from any high point for CIFR and FBTC.
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Drawdown Indicators
| CIFR | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.16% | -52.07% | -45.09% |
Max Drawdown (1Y)Largest decline over 1 year | -51.38% | -52.07% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -71.74% | — | — |
Current DrawdownCurrent decline from peak | -6.81% | -49.42% | +42.61% |
Average DrawdownAverage peak-to-trough decline | -66.24% | -16.46% | -49.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.57% | 29.61% | -4.04% |
Volatility
CIFR vs. FBTC - Volatility Comparison
Cipher Digital Inc. (CIFR) has a higher volatility of 31.19% compared to Fidelity Wise Origin Bitcoin Fund (FBTC) at 11.97%. This indicates that CIFR's price experiences larger fluctuations and is considered to be riskier than FBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIFR | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.19% | 11.97% | +19.22% |
Volatility (6M)Calculated over the trailing 6-month period | 72.25% | 34.39% | +37.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 109.30% | 43.98% | +65.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 121.97% | 50.13% | +71.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 121.97% | 50.13% | +71.84% |
Dividends
CIFR vs. FBTC - Dividend Comparison
Neither CIFR nor FBTC has paid dividends to shareholders.
Frequently Asked Questions
CIFR and FBTC have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CIFR has higher volatility (31.19%) compared to FBTC (11.97%). In terms of maximum drawdown, CIFR dropped -97.16% vs FBTC's -52.07%.
CIFR currently has the higher Sharpe Ratio (4.98 vs -0.93), 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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