SNX-USD vs. AVAX-USD
SNX-USD (SynthetixNetworkToken) and AVAX-USD (Avalanche) are both cryptocurrencies. Over the past 5 years, SNX-USD returned -54.34%/yr vs -16.53%/yr for AVAX-USD. A 0.66 correlation means they provide meaningful diversification when combined.
Performance
SNX-USD vs. AVAX-USD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SNX-USD having a -34.41% return and AVAX-USD slightly higher at -33.33%.
SNX-USD
- 1D
- -6.62%
- 1M
- -15.16%
- YTD
- -34.41%
- 6M
- -51.19%
- 1Y
- -62.02%
- 3Y*
- -51.50%
- 5Y*
- -54.34%
- 10Y*
- —
AVAX-USD
- 1D
- -7.97%
- 1M
- -9.69%
- YTD
- -33.33%
- 6M
- -39.84%
- 1Y
- -61.25%
- 3Y*
- -17.46%
- 5Y*
- -16.53%
- 10Y*
- —
SNX-USD vs. AVAX-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SNX-USD SynthetixNetworkToken | -34.41% | -78.57% | -50.43% | 168.73% | -73.89% | -24.18% | 184.87% |
AVAX-USD Avalanche | -33.33% | -65.48% | -7.43% | 253.44% | -90.05% | 3,388.95% | -35.96% |
Correlation
The correlation between SNX-USD and AVAX-USD is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2020 | 0.66 |
The correlation between SNX-USD and AVAX-USD has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.
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Return for Risk
SNX-USD vs. AVAX-USD — Risk / Return Rank
SNX-USD
AVAX-USD
SNX-USD vs. AVAX-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SynthetixNetworkToken (SNX-USD) and Avalanche (AVAX-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.
| SNX-USD | AVAX-USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.44 | -0.78 | +0.33 |
Sortino ratioReturn per unit of downside risk | -0.18 | -1.08 | +0.90 |
Omega ratioGain probability vs. loss probability | 0.98 | 0.89 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | -0.82 | -1.17 | +0.34 |
Martin ratioReturn relative to average drawdown | -0.95 | -1.41 | +0.47 |
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
| SNX-USD | AVAX-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | -0.78 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | -0.16 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.05 | 0.08 | -0.13 |
Drawdowns
SNX-USD vs. AVAX-USD - Drawdown Comparison
The maximum SNX-USD drawdown since its inception was -99.01%, which is greater than AVAX-USD's maximum drawdown of -93.94%. Use the drawdown chart below to compare losses from any high point for SNX-USD and AVAX-USD.
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Drawdown Indicators
| SNX-USD | AVAX-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.01% | -93.94% | -5.07% |
Max Drawdown (1Y)Largest decline over 1 year | -88.27% | -76.70% | -11.57% |
Max Drawdown (3Y)Largest decline over 3 years | -94.73% | -86.49% | -8.24% |
Max Drawdown (5Y)Largest decline over 5 years | -98.21% | -93.94% | -4.27% |
Current DrawdownCurrent decline from peak | -99.01% | -93.94% | -5.07% |
Average DrawdownAverage peak-to-trough decline | -72.90% | -70.09% | -2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 76.81% | 61.62% | +15.19% |
Volatility
SNX-USD vs. AVAX-USD - Volatility Comparison
SynthetixNetworkToken (SNX-USD) has a higher volatility of 17.15% compared to Avalanche (AVAX-USD) at 13.66%. This indicates that SNX-USD's price experiences larger fluctuations and is considered to be riskier than AVAX-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SNX-USD | AVAX-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.15% | 13.66% | +3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 58.72% | 47.67% | +11.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 116.18% | 65.59% | +50.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 101.21% | 84.53% | +16.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 117.60% | 96.88% | +20.72% |
Frequently Asked Questions
SNX-USD and AVAX-USD have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SNX-USD has higher volatility (17.15%) compared to AVAX-USD (13.66%). In terms of maximum drawdown, SNX-USD dropped -99.01% vs AVAX-USD's -93.94%.
SNX-USD currently has the higher Sharpe Ratio (-0.44 vs -0.78), 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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