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 -4.98%/yr vs 14.22%/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 -50.95% return, which is significantly lower than ^IXIC's 15.54% return.
MATH
- 1D
- -2.83%
- 1M
- 0.00%
- YTD
- -50.95%
- 6M
- -64.24%
- 1Y
- -70.82%
- 3Y*
- 0.66%
- 5Y*
- -4.98%
- 10Y*
- —
^IXIC
- 1D
- -0.89%
- 1M
- 7.13%
- YTD
- 15.54%
- 6M
- 14.50%
- 1Y
- 38.43%
- 3Y*
- 26.58%
- 5Y*
- 14.22%
- 10Y*
- 18.44%
MATH vs. ^IXIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MATH Metalpha Technology Holding Limited | -50.95% | 82.61% | -47.25% | 323.71% | -57.48% | -48.29% | 80.00% | -0.01% | -70.18% | -68.11% |
^IXIC NASDAQ Composite | 15.54% | 20.36% | 28.64% | 43.42% | -33.10% | 21.39% | 43.64% | 35.23% | -3.88% | 4.14% |
Correlation
The correlation between MATH and ^IXIC is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
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 23, 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.
| MATH | ^IXIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.19 | ||
| Sortino ratioReturn per unit of downside risk | -4.48 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.41 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | 2.92 | -3.82 |
| Martin ratioReturn relative to average drawdown | -1.48 | 11.39 | -12.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MATH | ^IXIC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.81 | 2.38 | -3.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.64 | -0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | 0.53 | -0.77 |
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 | -78.88% | -13.21% | -65.67% |
Max Drawdown (3Y)Largest decline over 3 years | -78.88% | -24.32% | -54.56% |
Max Drawdown (5Y)Largest decline over 5 years | -78.88% | -36.40% | -42.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.40% | — |
Current DrawdownCurrent decline from peak | -92.47% | -0.89% | -91.58% |
Average DrawdownAverage peak-to-trough decline | -87.05% | -21.40% | -65.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.88% | 3.38% | +44.50% |
Volatility
MATH vs. ^IXIC - Volatility Comparison
Metalpha Technology Holding Limited (MATH) has a higher volatility of 23.81% compared to NASDAQ Composite (^IXIC) at 4.28%. 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 | 23.81% | 4.28% | +19.53% |
Volatility (6M)Calculated over the trailing 6-month period | 59.92% | 12.13% | +47.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.33% | 16.25% | +72.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.91% | 22.43% | +67.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 108.86% | 22.01% | +86.85% |
Frequently Asked Questions
MATH and ^IXIC have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MATH has higher volatility (23.81%) compared to ^IXIC (4.28%). In terms of maximum drawdown, MATH dropped -96.71% vs ^IXIC's -77.93%.
^IXIC currently has the higher Sharpe Ratio (2.38 vs -0.81), 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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