DSPIX vs. BTC-USD
DSPIX (BNY Mellon Institutional S&P 500 Stock Index Fund) is S&P 500 fund tracking the S&P 500 Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, DSPIX returned 14.73%/yr vs 57.45%/yr for BTC-USD. At a 0.13 correlation, their price movements are largely independent.
Performance
DSPIX vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, DSPIX achieves a 11.25% return, which is significantly higher than BTC-USD's -28.58% return. Over the past 10 years, DSPIX has underperformed BTC-USD with an annualized return of 14.73%, while BTC-USD has yielded a comparatively higher 57.45% annualized return.
DSPIX
- 1D
- 0.42%
- 1M
- 2.01%
- 6M
- 9.11%
- YTD
- 11.25%
- 1Y
- 22.42%
- 3Y*
- 20.93%
- 5Y*
- 13.02%
- 10Y*
- 14.73%
BTC-USD
- 1D
- -1.96%
- 1M
- -3.01%
- 6M
- -31.47%
- YTD
- -28.58%
- 1Y
- -47.54%
- 3Y*
- 27.25%
- 5Y*
- 13.75%
- 10Y*
- 57.45%
DSPIX vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DSPIX BNY Mellon Institutional S&P 500 Stock Index Fund | 11.25% | 17.81% | 24.40% | 26.36% | -18.51% | 28.64% | 14.18% | 31.31% | -4.36% | 21.59% |
BTC-USD Bitcoin | -28.58% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between DSPIX and BTC-USD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2012 | 0.13 |
Over the past year, DSPIX and BTC-USD have become more correlated (0.37) than their long-term average of 0.13, meaning their price movements have been converging.
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Return for Risk
DSPIX vs. BTC-USD — Risk / Return Rank
DSPIX
BTC-USD
DSPIX vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) 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.
| DSPIX | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.88 | ||
| Sortino ratioReturn per unit of downside risk | +4.14 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.83 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | -0.90 | +3.38 |
| Martin ratioReturn relative to average drawdown | 10.86 | -1.46 | +12.32 |
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Drawdowns
DSPIX vs. BTC-USD - Drawdown Comparison
The maximum DSPIX drawdown since its inception was -55.32%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for DSPIX and BTC-USD.
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Drawdown Indicators
| DSPIX | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.32% | -85.30% | +29.98% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -53.08% | +44.16% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -53.08% | +34.27% |
Max Drawdown (5Y)Largest decline over 5 years | -24.62% | -76.67% | +52.05% |
Max Drawdown (10Y)Largest decline over 10 years | -33.79% | -83.80% | +50.01% |
Current DrawdownCurrent decline from peak | -0.34% | -49.89% | +49.55% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -42.55% | +33.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 28.99% | -26.96% |
Volatility
DSPIX vs. BTC-USD - Volatility Comparison
The current volatility for BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) is 4.25%, while Bitcoin (BTC-USD) has a volatility of 8.86%. This indicates that DSPIX experiences smaller price fluctuations and is considered to be less risky 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
| DSPIX | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 8.86% | -4.61% |
Volatility (6M)Calculated over the trailing 6-month period | 9.96% | 34.96% | -25.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.53% | 35.56% | -23.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.03% | 43.94% | -26.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.01% | 56.32% | -38.31% |
Frequently Asked Questions
DSPIX and BTC-USD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (8.86%) compared to DSPIX (4.25%). In terms of maximum drawdown, DSPIX dropped -55.32% vs BTC-USD's -85.30%.
DSPIX currently has the higher Sharpe Ratio (1.76 vs -1.11), 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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