CONL vs. GOOGL
CONL (GraniteShares 2x Long COIN Daily ETF) is Leveraged Equities fund actively managed by GraniteShares, while GOOGL (Alphabet Inc. Class A) is a stock. Over the past 3 years, CONL returned -8.64%/yr vs 44.32%/yr for GOOGL. At a 0.37 correlation, their price movements are largely independent.
Performance
CONL vs. GOOGL - Performance Comparison
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Returns By Period
In the year-to-date period, CONL achieves a -63.14% return, which is significantly lower than GOOGL's 17.73% return.
CONL
- 1D
- -2.17%
- 1M
- -30.59%
- YTD
- -63.14%
- 6M
- -68.88%
- 1Y
- -83.91%
- 3Y*
- -8.64%
- 5Y*
- —
- 10Y*
- —
GOOGL
- 1D
- 1.17%
- 1M
- -5.31%
- YTD
- 17.73%
- 6M
- 19.97%
- 1Y
- 112.95%
- 3Y*
- 44.32%
- 5Y*
- 25.32%
- 10Y*
- 26.53%
CONL vs. GOOGL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CONL GraniteShares 2x Long COIN Daily ETF | -63.14% | -58.49% | 4.23% | 641.63% | -80.40% |
GOOGL Alphabet Inc. Class A | 17.73% | 65.99% | 36.01% | 58.32% | -24.78% |
Correlation
The correlation between CONL and GOOGL is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.37 |
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Return for Risk
CONL vs. GOOGL — Risk / Return Rank
CONL
GOOGL
CONL vs. GOOGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long COIN Daily ETF (CONL) and Alphabet Inc. Class A (GOOGL). 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.
| CONL | GOOGL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.48 | ||
| Sortino ratioReturn per unit of downside risk | -6.06 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.62 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 5.58 | -6.49 |
| Martin ratioReturn relative to average drawdown | -1.23 | 19.64 | -20.86 |
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Drawdowns
CONL vs. GOOGL - Drawdown Comparison
The maximum CONL drawdown since its inception was -94.36%, which is greater than GOOGL's maximum drawdown of -65.29%. Use the drawdown chart below to compare losses from any high point for CONL and GOOGL.
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Drawdown Indicators
| CONL | GOOGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.36% | -65.29% | -29.07% |
Max Drawdown (1Y)Largest decline over 1 year | -92.57% | -20.37% | -72.20% |
Max Drawdown (3Y)Largest decline over 3 years | -94.36% | -29.81% | -64.55% |
Max Drawdown (5Y)Largest decline over 5 years | — | -44.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.32% | — |
Current DrawdownCurrent decline from peak | -93.66% | -8.54% | -85.12% |
Average DrawdownAverage peak-to-trough decline | -56.37% | -13.01% | -43.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 68.46% | 5.79% | +62.67% |
Volatility
CONL vs. GOOGL - Volatility Comparison
GraniteShares 2x Long COIN Daily ETF (CONL) has a higher volatility of 36.22% compared to Alphabet Inc. Class A (GOOGL) at 8.18%. This indicates that CONL's price experiences larger fluctuations and is considered to be riskier than GOOGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CONL | GOOGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.22% | 8.18% | +28.04% |
Volatility (6M)Calculated over the trailing 6-month period | 102.76% | 20.99% | +81.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 139.79% | 29.50% | +110.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 149.68% | 31.38% | +118.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 149.68% | 29.14% | +120.54% |
Dividends
CONL vs. GOOGL - Dividend Comparison
CONL has not paid dividends to shareholders, while GOOGL's dividend yield for the trailing twelve months is around 0.23%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CONL GraniteShares 2x Long COIN Daily ETF | 0.00% | 0.00% | 0.31% |
GOOGL Alphabet Inc. Class A | 0.23% | 0.27% | 0.32% |
Frequently Asked Questions
CONL and GOOGL have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CONL has higher volatility (36.22%) compared to GOOGL (8.18%). In terms of maximum drawdown, CONL dropped -94.36% vs GOOGL's -65.29%.
GOOGL currently has the higher Sharpe Ratio (3.86 vs -0.62), 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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