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 15.21%/yr vs 57.41%/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 9.69% return, which is significantly higher than BTC-USD's -28.07% return. Over the past 10 years, DSPIX has underperformed BTC-USD with an annualized return of 15.21%, while BTC-USD has yielded a comparatively higher 57.41% annualized return.
DSPIX
- 1D
- -0.37%
- 1M
- 0.08%
- YTD
- 9.69%
- 6M
- 8.69%
- 1Y
- 25.45%
- 3Y*
- 21.21%
- 5Y*
- 13.38%
- 10Y*
- 15.21%
BTC-USD
- 1D
- -1.58%
- 1M
- -18.24%
- YTD
- -28.07%
- 6M
- -28.01%
- 1Y
- -40.30%
- 3Y*
- 27.25%
- 5Y*
- 12.68%
- 10Y*
- 57.41%
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 | 9.69% | 17.81% | 24.40% | 26.36% | -18.51% | 28.64% | 14.18% | 31.31% | -4.36% | 21.59% |
BTC-USD Bitcoin | -28.07% | -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 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
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 8, 2012 | 0.13 |
Over the past year, DSPIX and BTC-USD have become more correlated (0.36) 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 | +3.09 | ||
| Sortino ratioReturn per unit of downside risk | +4.22 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.86 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | -0.79 | +3.79 |
| Martin ratioReturn relative to average drawdown | 13.53 | -1.32 | +14.85 |
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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% | -51.21% | +42.29% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -51.21% | +32.40% |
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 | -1.74% | -49.54% | +47.80% |
Average DrawdownAverage peak-to-trough decline | -9.27% | -42.40% | +33.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 31.29% | -29.31% |
Volatility
DSPIX vs. BTC-USD - Volatility Comparison
The current volatility for BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) is 4.66%, while Bitcoin (BTC-USD) has a volatility of 12.23%. 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 | 4.66% | 12.23% | -7.57% |
Volatility (6M)Calculated over the trailing 6-month period | 9.85% | 34.57% | -24.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.51% | 35.70% | -23.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.02% | 44.26% | -27.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 56.41% | -38.33% |
Frequently Asked Questions
DSPIX and BTC-USD have a correlation of 0.36, 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 (12.23%) compared to DSPIX (4.66%). In terms of maximum drawdown, DSPIX dropped -55.32% vs BTC-USD's -85.30%.
DSPIX currently has the higher Sharpe Ratio (2.14 vs -0.94), 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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