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 -16.91%/yr vs 60.98%/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 41.03% return, which is significantly higher than BTC-USD's -23.17% return. Over the past 10 years, SLNH has underperformed BTC-USD with an annualized return of -16.91%, while BTC-USD has yielded a comparatively higher 60.98% annualized return.
SLNH
- 1D
- -1.20%
- 1M
- 4.43%
- YTD
- 41.03%
- 6M
- 4.43%
- 1Y
- 166.30%
- 3Y*
- -32.13%
- 5Y*
- -61.55%
- 10Y*
- -16.91%
BTC-USD
- 1D
- 0.85%
- 1M
- -14.42%
- YTD
- -23.17%
- 6M
- -26.37%
- 1Y
- -36.52%
- 3Y*
- 35.33%
- 5Y*
- 12.77%
- 10Y*
- 60.98%
SLNH vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLNH Soluna Holdings, Inc. | 41.03% | -44.29% | -47.50% | -38.67% | -97.58% | 128.45% | 602.99% | 47.87% | -20.05% | -30.35% |
BTC-USD Bitcoin | -23.17% | -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 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
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 Sep 19, 2012 | 0.10 |
Over the past year, SLNH and BTC-USD have become more correlated (0.33) 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.
| SLNH | BTC-USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | -0.85 | +1.67 |
Sortino ratioReturn per unit of downside risk | 2.79 | -1.14 | +3.93 |
Omega ratioGain probability vs. loss probability | 1.30 | 0.88 | +0.42 |
Calmar ratioReturn relative to maximum drawdown | 1.83 | -1.07 | +2.90 |
Martin ratioReturn relative to average drawdown | 2.62 | -1.57 | +4.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLNH | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | -0.85 | +1.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | 0.24 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.13 | 0.89 | -1.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | 1.14 | -1.20 |
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% | -49.65% | -36.61% |
Max Drawdown (3Y)Largest decline over 3 years | -95.57% | -49.65% | -45.92% |
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 | -99.60% | -46.10% | -53.50% |
Average DrawdownAverage peak-to-trough decline | -57.02% | -42.27% | -14.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.33% | 33.71% | +26.62% |
Volatility
SLNH vs. BTC-USD - Volatility Comparison
Soluna Holdings, Inc. (SLNH) has a higher volatility of 44.28% compared to Bitcoin (BTC-USD) at 9.90%. 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 | 44.28% | 9.90% | +34.38% |
Volatility (6M)Calculated over the trailing 6-month period | 108.51% | 33.98% | +74.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 204.51% | 35.37% | +169.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 143.64% | 45.01% | +98.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 128.54% | 56.68% | +71.86% |
Frequently Asked Questions
SLNH and BTC-USD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLNH has higher volatility (44.28%) compared to BTC-USD (9.90%). In terms of maximum drawdown, SLNH dropped -99.90% vs BTC-USD's -85.30%.
SLNH currently has the higher Sharpe Ratio (0.82 vs -0.85), 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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