ETH-USD vs. SPY
ETH-USD (Ethereum) is a cryptocurrency, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ETH-USD returned 64.49%/yr vs 15.48%/yr for SPY. At a 0.18 correlation, their price movements are largely independent.
Performance
ETH-USD vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, ETH-USD achieves a -42.29% return, which is significantly lower than SPY's 10.09% return. Over the past 10 years, ETH-USD has outperformed SPY with an annualized return of 64.49%, while SPY has yielded a comparatively lower 15.48% annualized return.
ETH-USD
- 1D
- -2.11%
- 1M
- -18.86%
- YTD
- -42.29%
- 6M
- -39.43%
- 1Y
- -32.21%
- 3Y*
- -0.47%
- 5Y*
- -4.58%
- 10Y*
- 64.49%
SPY
- 1D
- 1.04%
- 1M
- 2.04%
- YTD
- 10.09%
- 6M
- 11.30%
- 1Y
- 26.75%
- 3Y*
- 20.82%
- 5Y*
- 14.00%
- 10Y*
- 15.48%
ETH-USD vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETH-USD Ethereum | -42.29% | -10.91% | 46.00% | 90.84% | -67.48% | 398.30% | 473.88% | -1.52% | -82.39% | 8,984.19% |
SPY State Street SPDR S&P 500 ETF | 10.09% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between ETH-USD and SPY is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2015 | 0.18 |
Over the past year, ETH-USD and SPY have become more correlated (0.39) than their long-term average of 0.18, meaning their price movements have been converging.
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Return for Risk
ETH-USD vs. SPY — Risk / Return Rank
ETH-USD
SPY
ETH-USD vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ethereum (ETH-USD) and State Street SPDR S&P 500 ETF (SPY). 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.
| ETH-USD | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.26 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.39 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 3.02 | -3.50 |
| Martin ratioReturn relative to average drawdown | -0.81 | 13.61 | -14.41 |
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Drawdowns
ETH-USD vs. SPY - Drawdown Comparison
The maximum ETH-USD drawdown since its inception was -94.01%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ETH-USD and SPY.
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Drawdown Indicators
| ETH-USD | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.01% | -55.19% | -38.82% |
Max Drawdown (1Y)Largest decline over 1 year | -67.53% | -8.88% | -58.65% |
Max Drawdown (3Y)Largest decline over 3 years | -67.53% | -18.76% | -48.77% |
Max Drawdown (5Y)Largest decline over 5 years | -79.35% | -24.50% | -54.85% |
Max Drawdown (10Y)Largest decline over 10 years | -94.01% | -33.72% | -60.29% |
Current DrawdownCurrent decline from peak | -64.56% | -1.44% | -63.12% |
Average DrawdownAverage peak-to-trough decline | -50.91% | -9.04% | -41.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.36% | 1.97% | +39.39% |
Volatility
ETH-USD vs. SPY - Volatility Comparison
Ethereum (ETH-USD) has a higher volatility of 18.15% compared to State Street SPDR S&P 500 ETF (SPY) at 4.73%. This indicates that ETH-USD's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETH-USD | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.15% | 4.73% | +13.42% |
Volatility (6M)Calculated over the trailing 6-month period | 46.36% | 9.81% | +36.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.22% | 12.41% | +43.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.48% | 17.15% | +42.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 77.21% | 17.98% | +59.23% |
Frequently Asked Questions
ETH-USD and SPY have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETH-USD has higher volatility (18.15%) compared to SPY (4.73%). In terms of maximum drawdown, ETH-USD dropped -94.01% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (2.17 vs -0.48), 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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