SLNH vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about Soluna Holdings, Inc. (SLNH) and Bitcoin (BTC-USD).

Performance

SLNH vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Soluna Holdings, Inc. (SLNH) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

SLNH vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLNH Soluna Holdings, Inc.	-42.53%	-44.29%	-47.50%	-38.67%	-97.58%	128.45%	602.99%	47.87%	-20.05%	-30.35%
BTC-USD Bitcoin	-21.63%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	94.10%	-73.37%	1,324.24%

Returns By Period

In the year-to-date period, SLNH achieves a -42.53% return, which is significantly lower than BTC-USD's -21.63% return. Over the past 10 years, SLNH has underperformed BTC-USD with an annualized return of -24.04%, while BTC-USD has yielded a comparatively higher 66.45% annualized return.

SLNH

• 1D: -4.87%
• 1M: -28.79%
• YTD: -42.53%
• 6M: -73.53%
• 1Y: 6.65%
• 3Y*: -53.65%
• 5Y*: -70.43%
• 10Y*: -24.04%

BTC-USD

• 1D: 0.51%
• 1M: -0.38%
• YTD: -21.63%
• 6M: -42.21%
• 1Y: -19.49%
• 3Y*: 34.49%
• 5Y*: 3.06%
• 10Y*: 66.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

SLNH vs. BTC-USD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SLNH

SLNH Risk / Return Rank: 52
SLNH Sharpe Ratio Rank: 41
SLNH Sortino Ratio Rank: 72
SLNH Omega Ratio Rank: 64
SLNH Calmar Ratio Rank: 42
SLNH Martin Ratio Rank: 42

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SLNH vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Soluna Holdings, Inc. (SLNH) 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.

	SLNH	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	0.03	-0.44	+0.48
Sortino ratio Return per unit of downside risk	1.75	-0.38	+2.13
Omega ratio Gain probability vs. loss probability	1.19	0.96	+0.23
Calmar ratio Return relative to maximum drawdown	0.06	-1.11	+1.17
Martin ratio Return relative to average drawdown	0.10	-1.99	+2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLNH vs. BTC-USD - Sharpe Ratio Comparison

The current SLNH Sharpe Ratio is 0.03, which is higher than the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of SLNH and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SLNH	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.03	-0.44	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.50	0.05	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.19	0.97	-1.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	1.19	-1.28

Correlation

The correlation between SLNH and BTC-USD is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

SLNH vs. BTC-USD - Drawdown Comparison

The maximum SLNH drawdown since its inception was -99.90%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for SLNH and BTC-USD.

Drawdown Indicators

	SLNH	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-99.90%	-85.30%	-14.60%
Max Drawdown (1Y) Largest decline over 1 year	-86.26%	-49.65%	-36.61%
Max Drawdown (5Y) Largest decline over 5 years	-99.90%	-76.67%	-23.23%
Max Drawdown (10Y) Largest decline over 10 years	-99.90%	-83.80%	-16.10%
Current Drawdown Current decline from peak	-99.84%	-45.02%	-54.82%
Average Drawdown Average peak-to-trough decline	-56.60%	-41.99%	-14.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	54.78%	27.60%	+27.18%

Volatility

SLNH vs. BTC-USD - Volatility Comparison

Soluna Holdings, Inc. (SLNH) has a higher volatility of 35.14% compared to Bitcoin (BTC-USD) at 13.58%. This indicates that SLNH'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.

Volatility by Period

	SLNH	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	35.14%	13.58%	+21.56%
Volatility (6M) Calculated over the trailing 6-month period	118.73%	35.98%	+82.75%
Volatility (1Y) Calculated over the trailing 1-year period	199.25%	36.76%	+162.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	140.96%	46.90%	+94.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	127.53%	56.70%	+70.83%