FBTC vs. CIFR
FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate, while CIFR (Cipher Digital Inc.) is a stock. Over the past year, FBTC returned -40.63% vs 538.02% for CIFR. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
FBTC vs. CIFR - Performance Comparison
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Returns By Period
In the year-to-date period, FBTC achieves a -27.39% return, which is significantly lower than CIFR's 65.99% return.
FBTC
- 1D
- 0.11%
- 1M
- -20.13%
- YTD
- -27.39%
- 6M
- -29.64%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CIFR
- 1D
- 8.26%
- 1M
- 15.35%
- YTD
- 65.99%
- 6M
- 43.70%
- 1Y
- 538.02%
- 3Y*
- 113.71%
- 5Y*
- —
- 10Y*
- —
FBTC vs. CIFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBTC Fidelity Wise Origin Bitcoin Fund | -27.39% | -6.56% | 94.28% |
CIFR Cipher Digital Inc. | 65.99% | 218.10% | 22.43% |
Correlation
The correlation between FBTC and CIFR is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.51 |
The correlation between FBTC and CIFR has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.
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Return for Risk
FBTC vs. CIFR — Risk / Return Rank
FBTC
CIFR
FBTC vs. CIFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Wise Origin Bitcoin Fund (FBTC) and Cipher Digital Inc. (CIFR). 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.
| FBTC | CIFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.90 | ||
| Sortino ratioReturn per unit of downside risk | -5.16 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.45 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 10.56 | -11.35 |
| Martin ratioReturn relative to average drawdown | -1.37 | 21.19 | -22.56 |
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Drawdowns
FBTC vs. CIFR - Drawdown Comparison
The maximum FBTC drawdown since its inception was -52.07%, smaller than the maximum CIFR drawdown of -97.16%. Use the drawdown chart below to compare losses from any high point for FBTC and CIFR.
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Drawdown Indicators
| FBTC | CIFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.07% | -97.16% | +45.09% |
Max Drawdown (1Y)Largest decline over 1 year | -52.07% | -51.38% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -71.74% | — |
Current DrawdownCurrent decline from peak | -49.42% | -6.81% | -42.61% |
Average DrawdownAverage peak-to-trough decline | -16.46% | -66.24% | +49.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.61% | 25.57% | +4.04% |
Volatility
FBTC vs. CIFR - Volatility Comparison
The current volatility for Fidelity Wise Origin Bitcoin Fund (FBTC) is 11.97%, while Cipher Digital Inc. (CIFR) has a volatility of 31.19%. This indicates that FBTC experiences smaller price fluctuations and is considered to be less risky than CIFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBTC | CIFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.97% | 31.19% | -19.22% |
Volatility (6M)Calculated over the trailing 6-month period | 34.39% | 72.25% | -37.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.98% | 109.30% | -65.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.13% | 121.97% | -71.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.13% | 121.97% | -71.84% |
Dividends
FBTC vs. CIFR - Dividend Comparison
Neither FBTC nor CIFR has paid dividends to shareholders.
Frequently Asked Questions
FBTC and CIFR have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CIFR has higher volatility (31.19%) compared to FBTC (11.97%). In terms of maximum drawdown, FBTC dropped -52.07% vs CIFR's -97.16%.
CIFR currently has the higher Sharpe Ratio (4.98 vs -0.93), 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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