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 1.17%/yr vs 61.52%/yr for BTC-USD. Their 0.11 correlation means their historical movements had little consistent relationship.
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 -6.04% return, which is significantly higher than BTC-USD's -32.11% return. Over the past 10 years, NOK=X has underperformed BTC-USD with an annualized return of 1.17%, while BTC-USD has yielded a comparatively higher 61.52% annualized return.
NOK=X
- 1D
- 0.19%
- 1M
- -3.61%
- 6M
- -1.70%
- YTD
- -6.04%
- 1Y
- -7.40%
- 3Y*
- -2.55%
- 5Y*
- 1.49%
- 10Y*
- 1.17%
- ALL TIME*
- 2.80%
BTC-USD
- 1D
- 0.91%
- 1M
- -2.54%
- 6M
- -19.18%
- YTD
- -32.11%
- 1Y
- -47.98%
- 3Y*
- 26.10%
- 5Y*
- 12.25%
- 10Y*
- 61.52%
- ALL TIME*
- 94.30%
Liquidity Comparison
NOK=X vs. BTC-USD - Yearly Performance Comparison
Correlation
The correlation between NOK=X and BTC-USD is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2012 | 0.11 |
The correlation between NOK=X and BTC-USD shifts across timeframes, from -0.05 (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 | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.82 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | -0.88 | +0.33 |
| Martin ratioReturn relative to average drawdown | -1.07 | -1.31 | +0.24 |
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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 -83.34%. 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% | -83.34% | +47.82% |
Max Drawdown (1Y)Largest decline over 1 year | -10.78% | -54.25% | +43.47% |
Max Drawdown (3Y)Largest decline over 3 years | -19.95% | -54.25% | +34.30% |
Max Drawdown (5Y)Largest decline over 5 years | -19.95% | -71.85% | +51.90% |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | -83.34% | +47.82% |
Current DrawdownCurrent decline from peak | -20.15% | -52.32% | +32.17% |
Average DrawdownAverage peak-to-trough decline | -13.04% | -39.24% | +26.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.82% | 27.88% | -22.06% |
Volatility
NOK=X vs. BTC-USD - Volatility Comparison
The current volatility for USD/NOK (NOK=X) is 2.39%, while Bitcoin (BTC-USD) has a volatility of 8.27%. 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 | 2.39% | 8.27% | -5.88% |
Volatility (6M)Calculated over the trailing 6-month period | 5.85% | 32.22% | -26.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.07% | 34.48% | -26.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.60% | 42.35% | -30.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.80% | 55.62% | -42.82% |
Frequently Asked Questions
NOK=X and BTC-USD have a correlation of -0.05, 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 (8.27%) compared to NOK=X (2.39%). In terms of maximum drawdown, NOK=X dropped -35.52% vs BTC-USD's -83.34%.
NOK=X currently has the higher Sharpe Ratio (-0.74 vs -1.16), 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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