NET vs. BTC-USD
NET (Cloudflare, Inc.) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, NET returned 19.44%/yr vs 10.30%/yr for BTC-USD. At a 0.23 correlation, their price movements are largely independent.
Performance
NET vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, NET achieves a 15.89% return, which is significantly higher than BTC-USD's -25.06% return.
NET
- 1D
- 0.46%
- 1M
- 15.65%
- YTD
- 15.89%
- 6M
- 12.86%
- 1Y
- 32.86%
- 3Y*
- 48.96%
- 5Y*
- 19.44%
- 10Y*
- —
BTC-USD
- 1D
- 2.42%
- 1M
- -17.06%
- YTD
- -25.06%
- 6M
- -25.64%
- 1Y
- -37.83%
- 3Y*
- 36.87%
- 5Y*
- 10.30%
- 10Y*
- 55.97%
NET vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NET Cloudflare, Inc. | 15.89% | 83.09% | 29.33% | 84.16% | -65.62% | 73.05% | 345.43% | -5.22% |
BTC-USD Bitcoin | -25.06% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | -31.26% |
Correlation
The correlation between NET and BTC-USD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2019 | 0.23 |
The correlation between NET and BTC-USD shifts across timeframes, from 0.20 (3 years) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NET vs. BTC-USD — Risk / Return Rank
NET
BTC-USD
NET vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cloudflare, Inc. (NET) 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.
| NET | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.88 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | -0.74 | +1.66 |
| Martin ratioReturn relative to average drawdown | 1.98 | -1.28 | +3.26 |
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Drawdowns
NET vs. BTC-USD - Drawdown Comparison
The maximum NET drawdown since its inception was -82.58%, roughly equal to the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for NET and BTC-USD.
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Drawdown Indicators
| NET | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.58% | -85.30% | +2.72% |
Max Drawdown (1Y)Largest decline over 1 year | -36.76% | -51.21% | +14.45% |
Max Drawdown (3Y)Largest decline over 3 years | -45.00% | -51.21% | +6.21% |
Max Drawdown (5Y)Largest decline over 5 years | -82.58% | -76.67% | -5.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -16.20% | -47.43% | +31.23% |
Average DrawdownAverage peak-to-trough decline | -37.52% | -42.37% | +4.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.09% | 35.28% | -18.19% |
Volatility
NET vs. BTC-USD - Volatility Comparison
Cloudflare, Inc. (NET) has a higher volatility of 20.99% compared to Bitcoin (BTC-USD) at 12.10%. This indicates that NET'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
| NET | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.99% | 12.10% | +8.89% |
Volatility (6M)Calculated over the trailing 6-month period | 53.96% | 34.64% | +19.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.18% | 35.63% | +24.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.52% | 44.55% | +23.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.78% | 56.61% | +11.17% |
Frequently Asked Questions
NET and BTC-USD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NET has higher volatility (20.99%) compared to BTC-USD (12.10%). In terms of maximum drawdown, NET dropped -82.58% vs BTC-USD's -85.30%.
NET currently has the higher Sharpe Ratio (0.57 vs -0.88), 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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