NOK=X vs. BTC-USD
NOK=X (USD/NOK) is a currency, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, NOK=X returned 1.45%/yr vs 59.72%/yr for BTC-USD. At a 0.11 correlation, their price movements are largely independent.
Performance
NOK=X vs. BTC-USD - Performance Comparison
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Different Trading Currencies
NOK=X is traded in NOK, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to NOK using the latest available exchange rates.
Returns By Period
In the year-to-date period, NOK=X achieves a -3.05% return, which is significantly higher than BTC-USD's -30.76% return. Over the past 10 years, NOK=X has underperformed BTC-USD with an annualized return of 1.45%, while BTC-USD has yielded a comparatively higher 59.72% annualized return.
NOK=X
- 1D
- -0.14%
- 1M
- 2.98%
- 6M
- -2.72%
- YTD
- -3.05%
- 1Y
- -3.73%
- 3Y*
- -0.89%
- 5Y*
- 2.29%
- 10Y*
- 1.45%
BTC-USD
- 1D
- -2.10%
- 1M
- 1.28%
- 6M
- -33.34%
- YTD
- -30.76%
- 1Y
- -49.50%
- 3Y*
- 26.11%
- 5Y*
- 16.35%
- 10Y*
- 59.72%
NOK=X vs. BTC-USD - Yearly Performance Comparison
Correlation
The correlation between NOK=X and BTC-USD is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2012 | 0.11 |
The correlation between NOK=X and BTC-USD shifts across timeframes, from -0.06 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NOK=X vs. BTC-USD — Risk / Return Rank
NOK=X
BTC-USD
NOK=X vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USD/NOK (NOK=X) 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.
| NOK=X | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.80 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | -0.91 | +0.65 |
| Martin ratioReturn relative to average drawdown | -0.52 | -1.43 | +0.91 |
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Drawdowns
NOK=X vs. BTC-USD - Drawdown Comparison
The maximum NOK=X drawdown since its inception was -35.52%, smaller than the maximum BTC-USD drawdown of -82.70%. Use the drawdown chart below to compare losses from any high point for NOK=X and BTC-USD.
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Drawdown Indicators
| NOK=X | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.52% | -82.70% | +47.18% |
Max Drawdown (1Y)Largest decline over 1 year | -11.22% | -54.12% | +42.90% |
Max Drawdown (3Y)Largest decline over 3 years | -19.95% | -54.12% | +34.17% |
Max Drawdown (5Y)Largest decline over 5 years | -19.95% | -71.82% | +51.87% |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | -82.70% | +47.18% |
Current DrawdownCurrent decline from peak | -17.62% | -51.37% | +33.75% |
Average DrawdownAverage peak-to-trough decline | -13.21% | -38.63% | +25.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.59% | 31.98% | -26.39% |
Volatility
NOK=X vs. BTC-USD - Volatility Comparison
The current volatility for USD/NOK (NOK=X) is 2.10%, while Bitcoin (BTC-USD) has a volatility of 8.47%. This indicates that NOK=X 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.
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Volatility by Period
| NOK=X | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 8.47% | -6.37% |
Volatility (6M)Calculated over the trailing 6-month period | 5.80% | 34.47% | -28.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.10% | 34.48% | -26.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.64% | 43.29% | -31.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.81% | 55.18% | -42.37% |
Frequently Asked Questions
NOK=X and BTC-USD have a correlation of -0.06, 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 (8.47%) compared to NOK=X (2.10%). In terms of maximum drawdown, NOK=X dropped -35.52% vs BTC-USD's -82.70%.
NOK=X currently has the higher Sharpe Ratio (-0.37 vs -1.19), 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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