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 -18.19%/yr vs 59.66%/yr for BTC-USD. Their 0.10 correlation means their historical movements had little consistent relationship.
Performance
SLNH vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SLNH achieves a 4.27% return, which is significantly higher than BTC-USD's -27.75% return. Over the past 10 years, SLNH has underperformed BTC-USD with an annualized return of -18.19%, while BTC-USD has yielded a comparatively higher 59.66% annualized return.
SLNH
- 1D
- -6.15%
- 1M
- 2.52%
- 6M
- 15.09%
- YTD
- 4.27%
- 1Y
- 184.58%
- 3Y*
- -45.89%
- 5Y*
- -63.56%
- 10Y*
- -18.19%
- ALL TIME*
- -10.50%
BTC-USD
- 1D
- 0.72%
- 1M
- 1.12%
- 6M
- -17.79%
- YTD
- -27.75%
- 1Y
- -43.83%
- 3Y*
- 29.40%
- 5Y*
- 10.61%
- 10Y*
- 59.66%
- ALL TIME*
- 87.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTC-USD Bitcoin | $1569.44T | $1598.63T | $2087.37T |
| $16.46M | $17.43M | $32.47M |
SLNH vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLNH Soluna Holdings, Inc. | 4.27% | -44.29% | -47.50% | -38.67% | -97.58% | 128.45% | 602.99% | 47.87% | -20.05% | -30.35% |
BTC-USD Bitcoin | -27.75% | -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 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.31 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.28 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.15 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2012 | 0.10 |
Over the past year, SLNH and BTC-USD have become more correlated (0.31) 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 | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +4.31 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.85 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | -0.83 | +2.77 |
| Martin ratioReturn relative to average drawdown | 2.76 | -1.27 | +4.03 |
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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% | -53.08% | -33.18% |
Max Drawdown (3Y)Largest decline over 3 years | -94.85% | -53.08% | -41.77% |
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 | -99.71% | -49.31% | -50.40% |
Average DrawdownAverage peak-to-trough decline | -57.41% | -42.73% | -14.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.58% | 24.94% | +35.64% |
Volatility
SLNH vs. BTC-USD - Volatility Comparison
Soluna Holdings, Inc. (SLNH) has a higher volatility of 33.91% compared to Bitcoin (BTC-USD) at 8.45%. 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 | 33.91% | 8.45% | +25.46% |
Volatility (6M)Calculated over the trailing 6-month period | 101.48% | 33.72% | +67.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 194.84% | 35.86% | +158.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 144.65% | 43.65% | +101.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 128.93% | 56.22% | +72.71% |
Frequently Asked Questions
SLNH and BTC-USD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLNH has higher volatility (33.91%) compared to BTC-USD (8.45%). In terms of maximum drawdown, SLNH dropped -99.90% vs BTC-USD's -85.30%.
SLNH currently has the higher Sharpe Ratio (0.86 vs -1.02), 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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