NCIQ vs. BTC-USD
NCIQ (Hashdex Nasdaq Crypto Index US ETF) is Cryptocurrency fund tracking the Nasdaq Crypto US Settlement Price™ Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, NCIQ returned -41.02% vs -39.53% for BTC-USD. A 0.68 correlation means they provide meaningful diversification when combined.
Performance
NCIQ vs. BTC-USD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NCIQ achieves a -30.25% return, which is significantly lower than BTC-USD's -27.60% return.
NCIQ
- 1D
- -2.79%
- 1M
- -21.86%
- YTD
- -30.25%
- 6M
- -34.70%
- 1Y
- -41.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -1.08%
- 1M
- -21.71%
- YTD
- -27.60%
- 6M
- -31.22%
- 1Y
- -39.53%
- 3Y*
- 35.01%
- 5Y*
- 12.25%
- 10Y*
- 59.71%
NCIQ vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NCIQ Hashdex Nasdaq Crypto Index US ETF | -30.25% | -10.21% |
BTC-USD Bitcoin | -27.60% | -10.27% |
Correlation
The correlation between NCIQ and BTC-USD is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2025 | 0.68 |
The correlation between NCIQ and BTC-USD has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NCIQ vs. BTC-USD — Risk / Return Rank
NCIQ
BTC-USD
NCIQ vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Nasdaq Crypto Index US ETF (NCIQ) 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.
| NCIQ | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.87 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.80 | +0.03 |
| Martin ratioReturn relative to average drawdown | -1.32 | -1.39 | +0.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| NCIQ | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.87 | -0.92 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.23 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.64 | 1.13 | -1.76 |
Drawdowns
NCIQ vs. BTC-USD - Drawdown Comparison
The maximum NCIQ drawdown since its inception was -53.35%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for NCIQ and BTC-USD.
Loading charts...
Drawdown Indicators
| NCIQ | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.35% | -85.30% | +31.95% |
Max Drawdown (1Y)Largest decline over 1 year | -53.35% | -49.65% | -3.70% |
Max Drawdown (3Y)Largest decline over 3 years | — | -49.65% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -53.35% | -49.21% | -4.14% |
Average DrawdownAverage peak-to-trough decline | -21.95% | -42.28% | +20.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.13% | 33.87% | -2.74% |
Volatility
NCIQ vs. BTC-USD - Volatility Comparison
The current volatility for Hashdex Nasdaq Crypto Index US ETF (NCIQ) is 9.32%, while Bitcoin (BTC-USD) has a volatility of 10.14%. This indicates that NCIQ experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NCIQ | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.32% | 10.14% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 35.88% | 34.17% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.24% | 35.51% | +11.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.79% | 44.98% | +2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.79% | 56.69% | -8.90% |
Frequently Asked Questions
NCIQ and BTC-USD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (10.14%) compared to NCIQ (9.32%). In terms of maximum drawdown, NCIQ dropped -53.35% vs BTC-USD's -85.30%.
NCIQ currently has the higher Sharpe Ratio (-0.87 vs -0.92), 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.
Find the right allocation for NCIQ and BTC-USD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer