MATH vs. ^IXIC
MATH (Metalpha Technology Holding Limited) is a stock, while ^IXIC (NASDAQ Composite) is an index. Over the past 5 years, MATH returned -9.80%/yr vs 11.76%/yr for ^IXIC. At a 0.10 correlation, their price movements are largely independent.
Performance
MATH vs. ^IXIC - Performance Comparison
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Returns By Period
In the year-to-date period, MATH achieves a -59.91% return, which is significantly lower than ^IXIC's 9.75% return.
MATH
- 1D
- -6.46%
- 1M
- -16.64%
- 6M
- -63.48%
- YTD
- -59.91%
- 1Y
- -74.64%
- 3Y*
- -13.26%
- 5Y*
- -9.80%
- 10Y*
- —
- ALL TIME*
- -21.99%
^IXIC
- 1D
- -0.05%
- 1M
- -3.81%
- 6M
- 8.47%
- YTD
- 9.75%
- 1Y
- 22.07%
- 3Y*
- 22.04%
- 5Y*
- 11.76%
- 10Y*
- 17.47%
- ALL TIME*
- 10.51%
MATH vs. ^IXIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MATH Metalpha Technology Holding Limited | -59.91% | 82.61% | -47.25% | 323.71% | -57.48% | -48.29% | 80.00% | -0.01% | -70.18% | -41.00% |
^IXIC NASDAQ Composite | 9.75% | 20.36% | 28.64% | 43.42% | -33.10% | 21.39% | 43.64% | 35.23% | -3.88% | 4.52% |
Correlation
The correlation between MATH and ^IXIC is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2017 | 0.10 |
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Return for Risk
MATH vs. ^IXIC — Risk / Return Rank
MATH
^IXIC
MATH vs. ^IXIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Metalpha Technology Holding Limited (MATH) and NASDAQ Composite (^IXIC). 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.
| MATH | ^IXIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -3.42 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.22 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 1.68 | -2.63 |
| Martin ratioReturn relative to average drawdown | -1.39 | 5.93 | -7.33 |
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Drawdowns
MATH vs. ^IXIC - Drawdown Comparison
The maximum MATH drawdown since its inception was -96.71%, which is greater than ^IXIC's maximum drawdown of -77.93%. Use the drawdown chart below to compare losses from any high point for MATH and ^IXIC.
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Drawdown Indicators
| MATH | ^IXIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.71% | -77.93% | -18.78% |
Max Drawdown (1Y)Largest decline over 1 year | -78.95% | -13.21% | -65.74% |
Max Drawdown (3Y)Largest decline over 3 years | -79.52% | -24.32% | -55.20% |
Max Drawdown (5Y)Largest decline over 5 years | -79.52% | -36.40% | -43.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.40% | — |
Current DrawdownCurrent decline from peak | -93.84% | -5.85% | -87.99% |
Average DrawdownAverage peak-to-trough decline | -87.09% | -21.36% | -65.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.52% | 3.73% | +49.79% |
Volatility
MATH vs. ^IXIC - Volatility Comparison
Metalpha Technology Holding Limited (MATH) has a higher volatility of 12.87% compared to NASDAQ Composite (^IXIC) at 5.65%. This indicates that MATH's price experiences larger fluctuations and is considered to be riskier than ^IXIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MATH | ^IXIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.87% | 5.65% | +7.22% |
Volatility (6M)Calculated over the trailing 6-month period | 60.94% | 14.38% | +46.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.44% | 17.97% | +66.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.71% | 22.70% | +67.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 112.17% | 22.08% | +90.09% |
Frequently Asked Questions
MATH and ^IXIC have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MATH has higher volatility (12.87%) compared to ^IXIC (5.65%). In terms of maximum drawdown, MATH dropped -96.71% vs ^IXIC's -77.93%.
^IXIC currently has the higher Sharpe Ratio (1.24 vs -0.89), 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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