HEX-USD vs. BTC-USD

Last updated Apr 3, 2026

Compare and contrast key facts about HEX (HEX-USD) and Bitcoin (BTC-USD).

Performance

HEX-USD vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HEX (HEX-USD) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

HEX-USD vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HEX-USD HEX	-19.16%	-74.99%	-41.55%	-71.08%	-93.41%	1,886.82%	18,056.96%	-53.80%
BTC-USD Bitcoin	-23.70%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	8.30%

Returns By Period

In the year-to-date period, HEX-USD achieves a -19.16% return, which is significantly higher than BTC-USD's -23.70% return.

HEX-USD

• 1D: -8.05%
• 1M: -2.75%
• YTD: -19.16%
• 6M: -77.43%
• 1Y: -57.10%
• 3Y*: -79.78%
• 5Y*: -48.38%
• 10Y*: —

BTC-USD

• 1D: -1.99%
• 1M: -2.31%
• YTD: -23.70%
• 6M: -44.66%
• 1Y: -19.07%
• 3Y*: 33.89%
• 5Y*: 3.18%
• 10Y*: 66.03%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

HEX-USD vs. BTC-USD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HEX-USD

HEX-USD Risk / Return Rank: 65
HEX-USD Sharpe Ratio Rank: 60
HEX-USD Sortino Ratio Rank: 69
HEX-USD Omega Ratio Rank: 69
HEX-USD Calmar Ratio Rank: 62
HEX-USD Martin Ratio Rank: 64

BTC-USD

BTC-USD Risk / Return Rank: 39
BTC-USD Sharpe Ratio Rank: 66
BTC-USD Sortino Ratio Rank: 60
BTC-USD Omega Ratio Rank: 59
BTC-USD Calmar Ratio Rank: 12
BTC-USD Martin Ratio Rank: 0

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HEX-USD vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HEX (HEX-USD) 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.

	HEX-USD	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	-0.44	-0.43	0.00
Sortino ratio Return per unit of downside risk	-0.02	-0.36	+0.34
Omega ratio Gain probability vs. loss probability	1.00	0.96	+0.04
Calmar ratio Return relative to maximum drawdown	-1.00	-1.14	+0.13
Martin ratio Return relative to average drawdown	-1.45	-2.03	+0.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEX-USD vs. BTC-USD - Sharpe Ratio Comparison

The current HEX-USD Sharpe Ratio is -0.44, which is comparable to the BTC-USD Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of HEX-USD and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HEX-USD	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	-0.43	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.30	0.06	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	1.18	-1.11

Correlation

The correlation between HEX-USD and BTC-USD is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

HEX-USD vs. BTC-USD - Drawdown Comparison

The maximum HEX-USD drawdown since its inception was -99.90%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for HEX-USD and BTC-USD.

Drawdown Indicators

	HEX-USD	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-99.90%	-85.30%	-14.60%
Max Drawdown (1Y) Largest decline over 1 year	-83.25%	-49.65%	-33.60%
Max Drawdown (5Y) Largest decline over 5 years	-99.90%	-76.67%	-23.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-83.80%	—
Current Drawdown Current decline from peak	-99.87%	-46.47%	-53.40%
Average Drawdown Average peak-to-trough decline	-74.18%	-42.00%	-32.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.40%	27.75%	+29.65%

Volatility

HEX-USD vs. BTC-USD - Volatility Comparison

HEX (HEX-USD) has a higher volatility of 36.17% compared to Bitcoin (BTC-USD) at 13.70%. This indicates that HEX-USD's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEX-USD	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	36.17%	13.70%	+22.47%
Volatility (6M) Calculated over the trailing 6-month period	84.61%	35.96%	+48.65%
Volatility (1Y) Calculated over the trailing 1-year period	108.54%	36.69%	+71.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	132.80%	46.91%	+85.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	275.19%	56.71%	+218.48%