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 -53.09% vs -43.02% for BTC-USD. A 0.62 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 -38.47% return, which is significantly lower than BTC-USD's -29.04% return.
SOLZ
- 1D
- -4.91%
- 1M
- 14.68%
- 6M
- -43.61%
- YTD
- -38.47%
- 1Y
- -53.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -1.95%
- 1M
- -1.55%
- 6M
- -31.98%
- YTD
- -29.04%
- 1Y
- -43.02%
- 3Y*
- 27.20%
- 5Y*
- 12.92%
- 10Y*
- 57.70%
SOLZ vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SOLZ Solana ETF | -38.47% | -14.53% |
BTC-USD Bitcoin | -29.04% | 0.71% |
Correlation
The correlation between SOLZ and BTC-USD is 0.66, 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 | 0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2025 | 0.62 |
The correlation between SOLZ and BTC-USD has been stable across timeframes, ranging from 0.62 to 0.66 - 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.
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.
| SOLZ | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.85 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | -0.81 | +0.11 |
| Martin ratioReturn relative to average drawdown | -1.04 | -1.34 | +0.29 |
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Drawdowns
SOLZ vs. BTC-USD - Drawdown Comparison
The maximum SOLZ drawdown since its inception was -75.68%, 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 | -75.68% | -85.30% | +9.62% |
Max Drawdown (1Y)Largest decline over 1 year | -75.68% | -53.08% | -22.60% |
Max Drawdown (3Y)Largest decline over 3 years | — | -53.08% | — |
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 | -70.27% | -50.22% | -20.05% |
Average DrawdownAverage peak-to-trough decline | -36.73% | -42.52% | +5.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.89% | 31.08% | +19.81% |
Volatility
SOLZ vs. BTC-USD - Volatility Comparison
Solana ETF (SOLZ) has a higher volatility of 23.12% compared to Bitcoin (BTC-USD) at 9.48%. 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 | 23.12% | 9.48% | +13.64% |
Volatility (6M)Calculated over the trailing 6-month period | 52.77% | 34.85% | +17.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.61% | 35.75% | +38.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.59% | 43.97% | +32.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 76.59% | 56.32% | +20.27% |
Frequently Asked Questions
SOLZ and BTC-USD have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOLZ has higher volatility (23.12%) compared to BTC-USD (9.48%). In terms of maximum drawdown, SOLZ dropped -75.68% vs BTC-USD's -85.30%.
SOLZ currently has the higher Sharpe Ratio (-0.71 vs -1.00), 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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