SLNH vs. BTC-USD
SLNH (Soluna Holdings, Inc.) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, SLNH returned -17.33%/yr vs 57.41%/yr for BTC-USD. At a 0.10 correlation, their price movements are largely independent.
Performance
SLNH vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SLNH achieves a 37.61% return, which is significantly higher than BTC-USD's -28.07% return. Over the past 10 years, SLNH has underperformed BTC-USD with an annualized return of -17.33%, while BTC-USD has yielded a comparatively higher 57.41% annualized return.
SLNH
- 1D
- -3.59%
- 1M
- -5.85%
- YTD
- 37.61%
- 6M
- 4.55%
- 1Y
- 195.14%
- 3Y*
- -30.88%
- 5Y*
- -61.38%
- 10Y*
- -17.33%
BTC-USD
- 1D
- -1.58%
- 1M
- -18.24%
- YTD
- -28.07%
- 6M
- -28.01%
- 1Y
- -40.30%
- 3Y*
- 27.25%
- 5Y*
- 12.68%
- 10Y*
- 57.41%
SLNH vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLNH Soluna Holdings, Inc. | 37.61% | -44.29% | -47.50% | -38.67% | -97.58% | 128.45% | 602.99% | 47.87% | -20.05% | -30.35% |
BTC-USD Bitcoin | -28.07% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between SLNH and BTC-USD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2012 | 0.10 |
Over the past year, SLNH and BTC-USD have become more correlated (0.32) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
SLNH vs. BTC-USD — Risk / Return Rank
SLNH
BTC-USD
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.
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.
| SLNH | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +4.22 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.86 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | -0.79 | +3.06 |
| Martin ratioReturn relative to average drawdown | 3.15 | -1.32 | +4.48 |
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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.
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Drawdown Indicators
| SLNH | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.90% | -85.30% | -14.60% |
Max Drawdown (1Y)Largest decline over 1 year | -86.26% | -51.21% | -35.05% |
Max Drawdown (3Y)Largest decline over 3 years | -95.57% | -51.21% | -44.36% |
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 DrawdownCurrent decline from peak | -99.61% | -49.54% | -50.07% |
Average DrawdownAverage peak-to-trough decline | -57.15% | -42.40% | -14.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 62.16% | 31.29% | +30.87% |
Volatility
SLNH vs. BTC-USD - Volatility Comparison
Soluna Holdings, Inc. (SLNH) has a higher volatility of 26.83% compared to Bitcoin (BTC-USD) at 12.23%. 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.
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Volatility by Period
| SLNH | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.83% | 12.23% | +14.60% |
Volatility (6M)Calculated over the trailing 6-month period | 102.12% | 34.57% | +67.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 204.99% | 35.70% | +169.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 143.89% | 44.26% | +99.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 128.70% | 56.41% | +72.29% |
Frequently Asked Questions
SLNH and BTC-USD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLNH has higher volatility (26.83%) compared to BTC-USD (12.23%). In terms of maximum drawdown, SLNH dropped -99.90% vs BTC-USD's -85.30%.
SLNH currently has the higher Sharpe Ratio (0.96 vs -0.94), 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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