EWJ vs. BTC-USD
EWJ (iShares MSCI Japan ETF) is Japan Equities fund tracking the MSCI Japan Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, EWJ returned 9.55%/yr vs 57.23%/yr for BTC-USD. At a 0.08 correlation, their price movements are largely independent.
Performance
EWJ vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, EWJ achieves a 14.83% return, which is significantly higher than BTC-USD's -26.27% return. Over the past 10 years, EWJ has underperformed BTC-USD with an annualized return of 9.55%, while BTC-USD has yielded a comparatively higher 57.23% annualized return.
EWJ
- 1D
- 0.57%
- 1M
- 0.71%
- YTD
- 14.83%
- 6M
- 14.50%
- 1Y
- 31.74%
- 3Y*
- 16.57%
- 5Y*
- 8.56%
- 10Y*
- 9.55%
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
EWJ vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWJ iShares MSCI Japan ETF | 14.83% | 25.84% | 7.03% | 20.29% | -17.72% | 1.16% | 15.40% | 19.34% | -14.10% | 24.27% |
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between EWJ and BTC-USD is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2012 | 0.08 |
The correlation between EWJ and BTC-USD shifts across timeframes, from 0.08 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EWJ vs. BTC-USD — Risk / Return Rank
EWJ
BTC-USD
EWJ vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan ETF (EWJ) 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.
| EWJ | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.44 | ||
| Sortino ratioReturn per unit of downside risk | +3.48 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.87 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | -0.77 | +3.03 |
| Martin ratioReturn relative to average drawdown | 7.62 | -1.33 | +8.96 |
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Drawdowns
EWJ vs. BTC-USD - Drawdown Comparison
The maximum EWJ drawdown since its inception was -60.93%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for EWJ and BTC-USD.
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Drawdown Indicators
| EWJ | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.93% | -85.30% | +24.37% |
Max Drawdown (1Y)Largest decline over 1 year | -13.59% | -51.21% | +37.62% |
Max Drawdown (3Y)Largest decline over 3 years | -14.68% | -51.21% | +36.53% |
Max Drawdown (5Y)Largest decline over 5 years | -33.14% | -76.67% | +43.53% |
Max Drawdown (10Y)Largest decline over 10 years | -33.14% | -83.80% | +50.66% |
Current DrawdownCurrent decline from peak | -1.51% | -48.27% | +46.76% |
Average DrawdownAverage peak-to-trough decline | -21.72% | -42.36% | +20.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 35.16% | -31.12% |
Volatility
EWJ vs. BTC-USD - Volatility Comparison
The current volatility for iShares MSCI Japan ETF (EWJ) is 6.31%, while Bitcoin (BTC-USD) has a volatility of 11.97%. This indicates that EWJ 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
| EWJ | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 11.97% | -5.66% |
Volatility (6M)Calculated over the trailing 6-month period | 15.96% | 34.64% | -18.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.23% | 35.59% | -15.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.38% | 44.57% | -26.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.33% | 56.61% | -39.28% |
Frequently Asked Questions
EWJ and BTC-USD have a correlation of 0.25, 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 (11.97%) compared to EWJ (6.31%). In terms of maximum drawdown, EWJ dropped -60.93% vs BTC-USD's -85.30%.
EWJ currently has the higher Sharpe Ratio (1.52 vs -0.92), 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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