CONY vs. COIN
CONY (YieldMax COIN Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax, while COIN (Coinbase Global, Inc.) is a stock. Over the past year, CONY returned -56.86% vs -59.34% for COIN. With a 0.98 correlation, they move nearly in lockstep.
Performance
CONY vs. COIN - Performance Comparison
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Returns By Period
In the year-to-date period, CONY achieves a -27.89% return, which is significantly higher than COIN's -30.41% return.
CONY
- 1D
- -0.87%
- 1M
- -2.31%
- 6M
- -32.20%
- YTD
- -27.89%
- 1Y
- -56.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COIN
- 1D
- -1.07%
- 1M
- -1.51%
- 6M
- -35.23%
- YTD
- -30.41%
- 1Y
- -59.34%
- 3Y*
- 14.33%
- 5Y*
- -7.30%
- 10Y*
- —
CONY vs. COIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CONY YieldMax COIN Option Income Strategy ETF | -27.89% | -26.34% | 23.62% | 76.18% |
COIN Coinbase Global, Inc. | -30.41% | -8.92% | 42.77% | 115.22% |
Correlation
The correlation between CONY and COIN 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 CONY and COIN has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
CONY vs. COIN — Risk / Return Rank
CONY
COIN
CONY vs. COIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax COIN Option Income Strategy ETF (CONY) and Coinbase Global, Inc. (COIN). 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.
| CONY | COIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.84 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.90 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.35 | -1.34 | -0.01 |
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Drawdowns
CONY vs. COIN - Drawdown Comparison
The maximum CONY drawdown since its inception was -63.57%, smaller than the maximum COIN drawdown of -91.46%. Use the drawdown chart below to compare losses from any high point for CONY and COIN.
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Drawdown Indicators
| CONY | COIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.57% | -91.46% | +27.89% |
Max Drawdown (1Y)Largest decline over 1 year | -63.39% | -66.39% | +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 | -59.15% | -62.51% | +3.36% |
Average DrawdownAverage peak-to-trough decline | -23.48% | -52.73% | +29.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.09% | 44.40% | -2.31% |
Volatility
CONY vs. COIN - Volatility Comparison
The current volatility for YieldMax COIN Option Income Strategy ETF (CONY) is 13.98%, while Coinbase Global, Inc. (COIN) has a volatility of 17.14%. This indicates that CONY experiences smaller price fluctuations and is considered to be less risky than COIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CONY | COIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.98% | 17.14% | -3.16% |
Volatility (6M)Calculated over the trailing 6-month period | 45.20% | 52.80% | -7.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.78% | 67.63% | -9.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.76% | 85.97% | -26.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.76% | 85.18% | -25.42% |
Dividends
CONY vs. COIN - Dividend Comparison
CONY's dividend yield for the trailing twelve months is around 192.94%, while COIN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
COIN Coinbase Global, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
CONY YieldMax COIN Option Income Strategy ETF | 192.94% | 192.07% | 155.66% | 16.43% |
Frequently Asked Questions
With a correlation of 0.99, CONY and COIN 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 (17.14%) compared to CONY (13.98%). In terms of maximum drawdown, CONY dropped -63.57% vs COIN's -91.46%.
COIN currently has the higher Sharpe Ratio (-0.88 vs -0.99), 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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