COIN vs. CONY
COIN (Coinbase Global, Inc.) is a stock, while CONY (YieldMax COIN Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax. Over the past year, COIN returned -55.09% vs -53.82% for CONY. With a 0.98 correlation, they move nearly in lockstep.
Performance
COIN vs. CONY - Performance Comparison
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Returns By Period
In the year-to-date period, COIN achieves a -29.53% return, which is significantly lower than CONY's -27.30% return.
COIN
- 1D
- -2.54%
- 1M
- -1.70%
- 6M
- -35.20%
- YTD
- -29.53%
- 1Y
- -55.09%
- 3Y*
- 26.50%
- 5Y*
- -8.89%
- 10Y*
- —
CONY
- 1D
- -1.83%
- 1M
- -2.30%
- 6M
- -32.02%
- YTD
- -27.30%
- 1Y
- -53.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COIN vs. CONY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
COIN Coinbase Global, Inc. | -29.53% | -8.92% | 42.77% | 115.22% |
CONY YieldMax COIN Option Income Strategy ETF | -27.30% | -26.34% | 23.62% | 76.18% |
Correlation
The correlation between COIN and CONY is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2023 | 0.98 |
The correlation between COIN and CONY has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
COIN vs. CONY — Risk / Return Rank
COIN
CONY
COIN vs. CONY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Coinbase Global, Inc. (COIN) and YieldMax COIN Option Income Strategy ETF (CONY). 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.
| COIN | CONY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.83 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.85 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.26 | -1.29 | +0.04 |
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Drawdowns
COIN vs. CONY - Drawdown Comparison
The maximum COIN drawdown since its inception was -91.46%, which is greater than CONY's maximum drawdown of -63.57%. Use the drawdown chart below to compare losses from any high point for COIN and CONY.
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Drawdown Indicators
| COIN | CONY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.46% | -63.57% | -27.89% |
Max Drawdown (1Y)Largest decline over 1 year | -66.39% | -63.39% | -3.00% |
Max Drawdown (3Y)Largest decline over 3 years | -66.39% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -90.90% | — | — |
Current DrawdownCurrent decline from peak | -62.04% | -58.81% | -3.23% |
Average DrawdownAverage peak-to-trough decline | -52.71% | -23.34% | -29.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.88% | 41.60% | +2.28% |
Volatility
COIN vs. CONY - Volatility Comparison
Coinbase Global, Inc. (COIN) has a higher volatility of 18.73% compared to YieldMax COIN Option Income Strategy ETF (CONY) at 15.47%. This indicates that COIN's price experiences larger fluctuations and is considered to be riskier than CONY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COIN | CONY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.73% | 15.47% | +3.26% |
Volatility (6M)Calculated over the trailing 6-month period | 52.83% | 45.22% | +7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.85% | 57.85% | +10.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 85.99% | 59.88% | +26.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 85.27% | 59.88% | +25.39% |
Dividends
COIN vs. CONY - Dividend Comparison
COIN has not paid dividends to shareholders, while CONY's dividend yield for the trailing twelve months is around 187.27%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
COIN Coinbase Global, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
CONY YieldMax COIN Option Income Strategy ETF | 187.27% | 192.07% | 155.66% | 16.43% |
Frequently Asked Questions
With a correlation of 0.99, COIN and CONY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
COIN has higher volatility (18.73%) compared to CONY (15.47%). In terms of maximum drawdown, COIN dropped -91.46% vs CONY's -63.57%.
COIN currently has the higher Sharpe Ratio (-0.81 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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