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 65.86%/yr vs 15.20%/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 -41.48% return, which is significantly lower than SPY's 9.89% return. Over the past 10 years, ETH-USD has outperformed SPY with an annualized return of 65.86%, while SPY has yielded a comparatively lower 15.20% annualized return.
ETH-USD
- 1D
- -1.91%
- 1M
- 2.74%
- 6M
- -45.15%
- YTD
- -41.48%
- 1Y
- -33.64%
- 3Y*
- -2.32%
- 5Y*
- -4.16%
- 10Y*
- 65.86%
SPY
- 1D
- -0.31%
- 1M
- 1.10%
- 6M
- 8.67%
- YTD
- 9.89%
- 1Y
- 21.49%
- 3Y*
- 20.83%
- 5Y*
- 12.86%
- 10Y*
- 15.20%
ETH-USD vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETH-USD Ethereum | -41.48% | -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 | 9.89% | 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 0.37, 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 | 0.30 |
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 |
The correlation between ETH-USD and SPY shifts across timeframes, from 0.18 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.
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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 | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -2.77 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.31 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 2.43 | -2.93 |
| Martin ratioReturn relative to average drawdown | -0.79 | 10.60 | -11.38 |
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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 | -67.60% | -8.88% | -58.72% |
Max Drawdown (3Y)Largest decline over 3 years | -67.60% | -18.76% | -48.84% |
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 | -64.06% | -1.61% | -62.45% |
Average DrawdownAverage peak-to-trough decline | -50.98% | -9.03% | -41.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.39% | 2.03% | +38.36% |
Volatility
ETH-USD vs. SPY - Volatility Comparison
Ethereum (ETH-USD) has a higher volatility of 13.09% compared to State Street SPDR S&P 500 ETF (SPY) at 4.46%. 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 | 13.09% | 4.46% | +8.63% |
Volatility (6M)Calculated over the trailing 6-month period | 46.62% | 9.96% | +36.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 12.54% | +43.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.74% | 17.17% | +41.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 76.84% | 17.93% | +58.91% |
Frequently Asked Questions
ETH-USD and SPY 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.
ETH-USD has higher volatility (13.09%) compared to SPY (4.46%). In terms of maximum drawdown, ETH-USD dropped -94.01% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.72 vs -0.50), 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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