HEX-USD vs. BTC-USD
HEX-USD (HEX) and BTC-USD (Bitcoin) are both cryptocurrencies. Over the past 5 years, HEX-USD returned -61.96%/yr vs 10.61%/yr for BTC-USD. Their 0.33 correlation means their historical movements had little consistent relationship.
Performance
HEX-USD vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, HEX-USD achieves a 41.59% return, which is significantly higher than BTC-USD's -27.75% return.
HEX-USD
- 1D
- 13.79%
- 1M
- 141.77%
- 6M
- 74.30%
- YTD
- 41.59%
- 1Y
- -40.70%
- 3Y*
- -44.03%
- 5Y*
- -61.96%
- 10Y*
- —
- ALL TIME*
- 29.77%
BTC-USD
- 1D
- 0.72%
- 1M
- 1.12%
- 6M
- -17.79%
- YTD
- -27.75%
- 1Y
- -43.83%
- 3Y*
- 29.40%
- 5Y*
- 10.61%
- 10Y*
- 59.66%
- ALL TIME*
- 87.16%
Liquidity Comparison
HEX-USD vs. BTC-USD - Yearly Performance Comparison
Correlation
The correlation between HEX-USD and BTC-USD is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2019 | 0.33 |
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Return for Risk
HEX-USD vs. BTC-USD — Risk / Return Rank
HEX-USD
BTC-USD
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.
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.
| HEX-USD | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.85 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | -0.83 | +0.34 |
| Martin ratioReturn relative to average drawdown | -0.64 | -1.27 | +0.63 |
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Drawdowns
HEX-USD vs. BTC-USD - Drawdown Comparison
The maximum HEX-USD drawdown since its inception was -99.91%, 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.
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Drawdown Indicators
| HEX-USD | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.91% | -85.30% | -14.61% |
Max Drawdown (1Y)Largest decline over 1 year | -86.37% | -53.08% | -33.29% |
Max Drawdown (3Y)Largest decline over 3 years | -96.24% | -53.08% | -43.16% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -76.67% | -23.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -99.77% | -49.31% | -50.46% |
Average DrawdownAverage peak-to-trough decline | -75.28% | -42.73% | -32.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 57.22% | 24.94% | +32.28% |
Volatility
HEX-USD vs. BTC-USD - Volatility Comparison
HEX (HEX-USD) has a higher volatility of 70.30% compared to Bitcoin (BTC-USD) at 8.45%. 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.
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Volatility by Period
| HEX-USD | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 70.30% | 8.45% | +61.85% |
Volatility (6M)Calculated over the trailing 6-month period | 98.34% | 33.72% | +64.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 119.41% | 35.86% | +83.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 131.92% | 43.65% | +88.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 158.60% | 56.22% | +102.38% |
Frequently Asked Questions
HEX-USD and BTC-USD have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HEX-USD has higher volatility (70.30%) compared to BTC-USD (8.45%). In terms of maximum drawdown, HEX-USD dropped -99.91% vs BTC-USD's -85.30%.
HEX-USD currently has the higher Sharpe Ratio (-0.29 vs -1.02), 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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