GASFX vs. BTC-USD
GASFX (Hennessy Gas Utility Fund) is Utilities Equities fund managed by Hennessy, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, GASFX returned 8.99%/yr vs 57.45%/yr for BTC-USD. At a 0.04 correlation, their price movements are largely independent.
Performance
GASFX vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, GASFX achieves a 12.77% return, which is significantly higher than BTC-USD's -28.58% return. Over the past 10 years, GASFX has underperformed BTC-USD with an annualized return of 8.99%, while BTC-USD has yielded a comparatively higher 57.45% annualized return.
GASFX
- 1D
- -0.03%
- 1M
- 1.32%
- 6M
- 13.67%
- YTD
- 12.77%
- 1Y
- 17.75%
- 3Y*
- 16.09%
- 5Y*
- 13.48%
- 10Y*
- 8.99%
BTC-USD
- 1D
- -1.96%
- 1M
- -3.01%
- 6M
- -31.47%
- YTD
- -28.58%
- 1Y
- -47.54%
- 3Y*
- 27.25%
- 5Y*
- 13.75%
- 10Y*
- 57.45%
GASFX vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GASFX Hennessy Gas Utility Fund | 12.77% | 10.42% | 24.98% | 0.27% | 13.68% | 19.60% | -9.34% | 20.80% | -3.47% | 7.04% |
BTC-USD Bitcoin | -28.58% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between GASFX and BTC-USD is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2012 | 0.04 |
The correlation between GASFX and BTC-USD shifts across timeframes, from 0.02 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GASFX vs. BTC-USD — Risk / Return Rank
GASFX
BTC-USD
GASFX vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hennessy Gas Utility Fund (GASFX) 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.
| GASFX | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.56 | ||
| Sortino ratioReturn per unit of downside risk | +3.79 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.83 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | -0.90 | +3.45 |
| Martin ratioReturn relative to average drawdown | 7.32 | -1.46 | +8.77 |
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Drawdowns
GASFX vs. BTC-USD - Drawdown Comparison
The maximum GASFX drawdown since its inception was -49.33%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for GASFX and BTC-USD.
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Drawdown Indicators
| GASFX | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.33% | -85.30% | +35.97% |
Max Drawdown (1Y)Largest decline over 1 year | -6.95% | -53.08% | +46.13% |
Max Drawdown (3Y)Largest decline over 3 years | -12.43% | -53.08% | +40.65% |
Max Drawdown (5Y)Largest decline over 5 years | -18.25% | -76.67% | +58.42% |
Max Drawdown (10Y)Largest decline over 10 years | -37.23% | -83.80% | +46.57% |
Current DrawdownCurrent decline from peak | -2.15% | -49.89% | +47.74% |
Average DrawdownAverage peak-to-trough decline | -7.84% | -42.55% | +34.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 28.99% | -26.57% |
Volatility
GASFX vs. BTC-USD - Volatility Comparison
The current volatility for Hennessy Gas Utility Fund (GASFX) is 4.45%, while Bitcoin (BTC-USD) has a volatility of 8.86%. This indicates that GASFX 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
| GASFX | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.45% | 8.86% | -4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 34.96% | -25.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.28% | 35.56% | -23.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.49% | 43.94% | -28.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.71% | 56.32% | -38.61% |
Frequently Asked Questions
GASFX and BTC-USD have a correlation of 0.02, 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 (8.86%) compared to GASFX (4.45%). In terms of maximum drawdown, GASFX dropped -49.33% vs BTC-USD's -85.30%.
GASFX currently has the higher Sharpe Ratio (1.45 vs -1.11), 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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