SNX-USD vs. AVAX-USD
SNX-USD (SynthetixNetworkToken) and AVAX-USD (Avalanche) are both cryptocurrencies. Over the past 5 years, SNX-USD returned -49.07%/yr vs -10.76%/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
In the year-to-date period, SNX-USD achieves a -44.63% return, which is significantly higher than AVAX-USD's -47.15% return.
SNX-USD
- 1D
- -7.35%
- 1M
- -24.58%
- YTD
- -44.63%
- 6M
- -47.21%
- 1Y
- -59.39%
- 3Y*
- -51.00%
- 5Y*
- -49.07%
- 10Y*
- —
AVAX-USD
- 1D
- 4.33%
- 1M
- -29.35%
- YTD
- -47.15%
- 6M
- -46.59%
- 1Y
- -64.07%
- 3Y*
- -20.67%
- 5Y*
- -10.76%
- 10Y*
- —
SNX-USD vs. AVAX-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SNX-USD SynthetixNetworkToken | -44.63% | -78.57% | -50.43% | 168.73% | -73.89% | -24.18% | 164.02% |
AVAX-USD Avalanche | -47.15% | -65.48% | -7.43% | 253.44% | -90.05% | 3,388.95% | -32.04% |
Correlation
The correlation between SNX-USD and AVAX-USD is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2020 | 0.66 |
The correlation between SNX-USD and AVAX-USD has been stable across timeframes, ranging from 0.66 to 0.73 - 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.
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.
| SNX-USD | AVAX-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.88 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | -0.77 | +0.11 |
| Martin ratioReturn relative to average drawdown | -0.88 | -1.12 | +0.24 |
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Drawdowns
SNX-USD vs. AVAX-USD - Drawdown Comparison
The maximum SNX-USD drawdown since its inception was -99.16%, roughly equal to the maximum AVAX-USD drawdown of -95.65%. 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 | -99.16% | -95.65% | -3.51% |
Max Drawdown (1Y)Largest decline over 1 year | -90.10% | -83.27% | -6.83% |
Max Drawdown (3Y)Largest decline over 3 years | -95.56% | -90.29% | -5.27% |
Max Drawdown (5Y)Largest decline over 5 years | -98.49% | -95.65% | -2.84% |
Current DrawdownCurrent decline from peak | -99.16% | -95.20% | -3.96% |
Average DrawdownAverage peak-to-trough decline | -73.05% | -70.31% | -2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 74.77% | 50.48% | +24.29% |
Volatility
SNX-USD vs. AVAX-USD - Volatility Comparison
The current volatility for SynthetixNetworkToken (SNX-USD) is 19.49%, while Avalanche (AVAX-USD) has a volatility of 21.73%. This indicates that SNX-USD experiences smaller price fluctuations and is considered to be less risky 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 | 19.49% | 21.73% | -2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 57.93% | 48.14% | +9.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 115.94% | 66.23% | +49.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 100.44% | 83.90% | +16.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 117.28% | 96.64% | +20.64% |
Frequently Asked Questions
SNX-USD and AVAX-USD have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVAX-USD has higher volatility (21.73%) compared to SNX-USD (19.49%). In terms of maximum drawdown, SNX-USD dropped -99.16% vs AVAX-USD's -95.65%.
SNX-USD currently has the higher Sharpe Ratio (-0.43 vs -0.81), 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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