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 60.98%/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 7.23% return, which is significantly higher than BTC-USD's -23.17% 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 60.98% annualized return.
GASFX
- 1D
- -1.40%
- 1M
- -5.96%
- YTD
- 7.23%
- 6M
- 5.96%
- 1Y
- 9.27%
- 3Y*
- 15.04%
- 5Y*
- 12.10%
- 10Y*
- 8.99%
BTC-USD
- 1D
- 0.85%
- 1M
- -14.42%
- YTD
- -23.17%
- 6M
- -26.37%
- 1Y
- -36.52%
- 3Y*
- 35.33%
- 5Y*
- 12.77%
- 10Y*
- 60.98%
GASFX vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GASFX Hennessy Gas Utility Fund | 7.23% | 10.42% | 24.98% | 0.27% | 13.68% | 19.60% | -9.34% | 20.80% | -3.47% | 7.04% |
BTC-USD Bitcoin | -23.17% | -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 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
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 Sep 19, 2012 | 0.04 |
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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.
| GASFX | BTC-USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.85 | -0.85 | +1.70 |
Sortino ratioReturn per unit of downside risk | 1.25 | -1.14 | +2.39 |
Omega ratioGain probability vs. loss probability | 1.15 | 0.88 | +0.26 |
Calmar ratioReturn relative to maximum drawdown | 1.55 | -1.07 | +2.62 |
Martin ratioReturn relative to average drawdown | 4.82 | -1.57 | +6.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GASFX | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | -0.85 | +1.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 0.24 | +0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.89 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 1.14 | -0.58 |
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% | -49.65% | +42.70% |
Max Drawdown (3Y)Largest decline over 3 years | -12.43% | -49.65% | +37.22% |
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 | -6.95% | -46.10% | +39.15% |
Average DrawdownAverage peak-to-trough decline | -7.86% | -42.27% | +34.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 33.71% | -31.48% |
Volatility
GASFX vs. BTC-USD - Volatility Comparison
The current volatility for Hennessy Gas Utility Fund (GASFX) is 4.32%, while Bitcoin (BTC-USD) has a volatility of 9.90%. 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 | 4.32% | 9.90% | -5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 9.09% | 33.98% | -24.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.74% | 35.37% | -23.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.45% | 45.01% | -29.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.68% | 56.68% | -39.00% |
Frequently Asked Questions
GASFX and BTC-USD have a correlation of 0.04, 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 (9.90%) compared to GASFX (4.32%). In terms of maximum drawdown, GASFX dropped -49.33% vs BTC-USD's -85.30%.
GASFX currently has the higher Sharpe Ratio (0.85 vs -0.85), 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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