MARA vs. BTC-USD

Last updated Apr 4, 2026

Compare and contrast key facts about Marathon Digital Holdings, Inc. (MARA) and Bitcoin (BTC-USD).

Performance

MARA vs. BTC-USD - Performance Comparison

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

MARA vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MARA Marathon Digital Holdings, Inc.	-3.01%	-46.45%	-28.61%	586.84%	-89.59%	214.75%	1,084.48%	-39.16%	-91.17%	-40.41%
BTC-USD Bitcoin	-23.54%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	94.10%	-73.37%	1,324.24%

Returns By Period

In the year-to-date period, MARA achieves a -3.01% return, which is significantly higher than BTC-USD's -23.54% return. Over the past 10 years, MARA has underperformed BTC-USD with an annualized return of -12.02%, while BTC-USD has yielded a comparatively higher 65.95% annualized return.

MARA

• 1D: 8.33%
• 1M: -6.24%
• YTD: -3.01%
• 6M: -53.72%
• 1Y: -22.44%
• 3Y*: 1.10%
• 5Y*: -29.17%
• 10Y*: -12.02%

BTC-USD

• 1D: 0.01%
• 1M: -7.96%
• YTD: -23.54%
• 6M: -45.31%
• 1Y: -19.57%
• 3Y*: 33.40%
• 5Y*: 2.82%
• 10Y*: 65.95%

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

Return for Risk

MARA vs. BTC-USD — Risk / Return Rank

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

MARA

MARA Risk / Return Rank: 27
MARA Sharpe Ratio Rank: 24
MARA Sortino Ratio Rank: 27
MARA Omega Ratio Rank: 27
MARA Calmar Ratio Rank: 27
MARA Martin Ratio Rank: 27

BTC-USD

BTC-USD Risk / Return Rank: 36
BTC-USD Sharpe Ratio Rank: 59
BTC-USD Sortino Ratio Rank: 53
BTC-USD Omega Ratio Rank: 50
BTC-USD Calmar Ratio Rank: 18
BTC-USD Martin Ratio Rank: 1

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.

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

This table presents a comparison of risk-adjusted performance metrics for Marathon Digital Holdings, Inc. (MARA) 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.

	MARA	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	-0.37	-0.44	+0.08
Sortino ratio Return per unit of downside risk	-0.05	-0.38	+0.34
Omega ratio Gain probability vs. loss probability	0.99	0.96	+0.04
Calmar ratio Return relative to maximum drawdown	-0.37	-1.12	+0.75
Martin ratio Return relative to average drawdown	-0.71	-2.00	+1.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MARA vs. BTC-USD - Sharpe Ratio Comparison

The current MARA Sharpe Ratio is -0.37, which is comparable to the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of MARA and BTC-USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MARA	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.37	-0.44	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	0.05	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	0.97	-1.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	1.19	-1.29

Correlation

The correlation between MARA and BTC-USD is 0.29, 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

MARA vs. BTC-USD - Drawdown Comparison

The maximum MARA drawdown since its inception was -99.74%, 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 MARA and BTC-USD.

Drawdown Indicators

	MARA	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-99.74%	-85.30%	-14.44%
Max Drawdown (1Y) Largest decline over 1 year	-70.53%	-49.65%	-20.88%
Max Drawdown (5Y) Largest decline over 5 years	-95.87%	-76.67%	-19.20%
Max Drawdown (10Y) Largest decline over 10 years	-99.20%	-83.80%	-15.40%
Current Drawdown Current decline from peak	-94.37%	-46.36%	-48.01%
Average Drawdown Average peak-to-trough decline	-77.83%	-42.00%	-35.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.38%	27.91%	+9.47%

Volatility

MARA vs. BTC-USD - Volatility Comparison

Marathon Digital Holdings, Inc. (MARA) has a higher volatility of 24.20% compared to Bitcoin (BTC-USD) at 12.05%. This indicates that MARA'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

	MARA	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.20%	12.05%	+12.15%
Volatility (6M) Calculated over the trailing 6-month period	62.12%	35.91%	+26.21%
Volatility (1Y) Calculated over the trailing 1-year period	81.93%	36.60%	+45.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.56%	46.89%	+60.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.02%	56.71%	+87.31%