SOLZ vs. BTC-USD
SOLZ (Solana ETF) is Cryptocurrency fund actively managed by Volatility Shares, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, SOLZ returned -59.55% vs -39.53% for BTC-USD. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
SOLZ vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SOLZ achieves a -45.08% return, which is significantly lower than BTC-USD's -27.60% return.
SOLZ
- 1D
- -3.82%
- 1M
- -20.48%
- YTD
- -45.08%
- 6M
- -51.54%
- 1Y
- -59.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -1.08%
- 1M
- -21.71%
- YTD
- -27.60%
- 6M
- -31.22%
- 1Y
- -39.53%
- 3Y*
- 35.01%
- 5Y*
- 12.25%
- 10Y*
- 59.71%
SOLZ vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SOLZ Solana ETF | -45.08% | -12.47% |
BTC-USD Bitcoin | -27.60% | 3.94% |
Correlation
The correlation between SOLZ and BTC-USD is 0.64, 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 | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2025 | 0.60 |
The correlation between SOLZ and BTC-USD has been stable across timeframes, ranging from 0.60 to 0.64 - a consistent structural relationship.
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Return for Risk
SOLZ vs. BTC-USD — Risk / Return Rank
SOLZ
BTC-USD
SOLZ vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Solana ETF (SOLZ) 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.
| SOLZ | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.87 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.80 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.29 | -1.39 | +0.11 |
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
| SOLZ | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.81 | -0.92 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.23 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.60 | 1.13 | -1.73 |
Drawdowns
SOLZ vs. BTC-USD - Drawdown Comparison
The maximum SOLZ drawdown since its inception was -73.46%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for SOLZ and BTC-USD.
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Drawdown Indicators
| SOLZ | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.46% | -85.30% | +11.84% |
Max Drawdown (1Y)Largest decline over 1 year | -73.46% | -49.65% | -23.81% |
Max Drawdown (3Y)Largest decline over 3 years | — | -49.65% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -73.46% | -49.21% | -24.25% |
Average DrawdownAverage peak-to-trough decline | -34.24% | -42.28% | +8.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.26% | 33.87% | +12.39% |
Volatility
SOLZ vs. BTC-USD - Volatility Comparison
Solana ETF (SOLZ) has a higher volatility of 16.04% compared to Bitcoin (BTC-USD) at 10.14%. This indicates that SOLZ'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
| SOLZ | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.04% | 10.14% | +5.90% |
Volatility (6M)Calculated over the trailing 6-month period | 49.52% | 34.17% | +15.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.90% | 35.51% | +38.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.02% | 44.98% | +31.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 76.02% | 56.69% | +19.33% |
Frequently Asked Questions
SOLZ and BTC-USD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOLZ has higher volatility (16.04%) compared to BTC-USD (10.14%). In terms of maximum drawdown, SOLZ dropped -73.46% vs BTC-USD's -85.30%.
SOLZ currently has the higher Sharpe Ratio (-0.81 vs -0.92), 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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