GLXY vs. ETHE
GLXY (Galaxy Digital Inc.) is a stock, while ETHE (Grayscale Ethereum Trust ETF) is Cryptocurrency fund tracking the CoinDesk Ether Price Index. Over the past year, GLXY returned -21.84% vs -47.48% for ETHE. Their 0.61 correlation means they have sometimes moved together and sometimes differently.
Performance
GLXY vs. ETHE - Performance Comparison
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Returns By Period
In the year-to-date period, GLXY achieves a -6.04% return, which is significantly higher than ETHE's -37.55% return.
GLXY
- 1D
- -2.37%
- 1M
- -14.56%
- 6M
- -25.65%
- YTD
- -6.04%
- 1Y
- -21.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -8.86%
ETHE
- 1D
- -3.03%
- 1M
- 9.62%
- 6M
- -30.54%
- YTD
- -37.55%
- 1Y
- -47.48%
- 3Y*
- 13.40%
- 5Y*
- -7.45%
- 10Y*
- —
- ALL TIME*
- 12.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $26.76M | $27.48M | $34.61M | |
| $133.62M | $141.92M | $181.78M |
GLXY vs. ETHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLXY Galaxy Digital Inc. | -6.04% | -4.85% |
ETHE Grayscale Ethereum Trust ETF | -37.55% | 15.88% |
Correlation
The correlation between GLXY and ETHE is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (All Time) Calculated using the full available price history since May 16, 2025 | 0.61 |
The correlation between GLXY and ETHE has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.
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Return for Risk
GLXY vs. ETHE — Risk / Return Rank
GLXY
ETHE
GLXY vs. ETHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Galaxy Digital Inc. (GLXY) and Grayscale Ethereum Trust ETF (ETHE). 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.
| GLXY | ETHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.89 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | -0.75 | +0.31 |
| Martin ratioReturn relative to average drawdown | -0.73 | -1.11 | +0.38 |
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Drawdowns
GLXY vs. ETHE - Drawdown Comparison
The maximum GLXY drawdown since its inception was -60.71%, smaller than the maximum ETHE drawdown of -96.26%. Use the drawdown chart below to compare losses from any high point for GLXY and ETHE.
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Drawdown Indicators
| GLXY | ETHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.71% | -96.26% | +35.55% |
Max Drawdown (1Y)Largest decline over 1 year | -60.71% | -68.17% | +7.46% |
Max Drawdown (3Y)Largest decline over 3 years | — | -68.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.85% | — |
Current DrawdownCurrent decline from peak | -50.98% | -76.38% | +25.40% |
Average DrawdownAverage peak-to-trough decline | -29.18% | -72.31% | +43.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.74% | 45.64% | -9.90% |
Volatility
GLXY vs. ETHE - Volatility Comparison
Galaxy Digital Inc. (GLXY) has a higher volatility of 30.77% compared to Grayscale Ethereum Trust ETF (ETHE) at 13.21%. This indicates that GLXY's price experiences larger fluctuations and is considered to be riskier than ETHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLXY | ETHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.77% | 13.21% | +17.56% |
Volatility (6M)Calculated over the trailing 6-month period | 70.62% | 45.80% | +24.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.24% | 67.10% | +24.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.32% | 81.09% | +9.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.32% | 189.83% | -99.51% |
Dividends
GLXY vs. ETHE - Dividend Comparison
GLXY has not paid dividends to shareholders, while ETHE's dividend yield for the trailing twelve months is around 1.45%.
| Position | TTM |
|---|---|
ETHE Grayscale Ethereum Trust ETF | 1.45% |
GLXY Galaxy Digital Inc. | 0.00% |
Frequently Asked Questions
GLXY and ETHE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLXY has higher volatility (30.77%) compared to ETHE (13.21%). In terms of maximum drawdown, GLXY dropped -60.71% vs ETHE's -96.26%.
GLXY currently has the higher Sharpe Ratio (-0.29 vs -0.76), 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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