TSM vs. BTC-USD
TSM (Taiwan Semiconductor Manufacturing Company Limited) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, TSM returned 35.71%/yr vs 59.68%/yr for BTC-USD. At a 0.10 correlation, their price movements are largely independent.
Performance
TSM vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, TSM achieves a 40.84% return, which is significantly higher than BTC-USD's -28.54% return. Over the past 10 years, TSM has underperformed BTC-USD with an annualized return of 35.71%, while BTC-USD has yielded a comparatively higher 59.68% annualized return.
TSM
- 1D
- 2.80%
- 1M
- 3.67%
- YTD
- 40.84%
- 6M
- 42.15%
- 1Y
- 110.53%
- 3Y*
- 63.10%
- 5Y*
- 31.67%
- 10Y*
- 35.71%
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
TSM vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 40.84% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between TSM and BTC-USD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2012 | 0.10 |
The correlation between TSM and BTC-USD shifts across timeframes, from 0.10 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TSM vs. BTC-USD — Risk / Return Rank
TSM
BTC-USD
TSM vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Taiwan Semiconductor Manufacturing Company Limited (TSM) 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.
| TSM | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.01 | ||
| Sortino ratioReturn per unit of downside risk | +4.97 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 0.86 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 6.13 | -0.80 | +6.93 |
| Martin ratioReturn relative to average drawdown | 21.94 | -1.42 | +23.36 |
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
| TSM | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | -0.95 | +4.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.20 | +0.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.05 | 0.87 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 1.13 | -0.76 |
Drawdowns
TSM vs. BTC-USD - Drawdown Comparison
The maximum TSM drawdown since its inception was -89.08%, roughly equal to the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for TSM and BTC-USD.
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Drawdown Indicators
| TSM | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -85.30% | -3.78% |
Max Drawdown (1Y)Largest decline over 1 year | -18.14% | -51.21% | +33.07% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -51.21% | +14.39% |
Max Drawdown (5Y)Largest decline over 5 years | -56.47% | -76.67% | +20.20% |
Max Drawdown (10Y)Largest decline over 10 years | -56.47% | -83.80% | +27.33% |
Current DrawdownCurrent decline from peak | -4.45% | -49.86% | +45.41% |
Average DrawdownAverage peak-to-trough decline | -42.87% | -42.32% | -0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 34.46% | -29.40% |
Volatility
TSM vs. BTC-USD - Volatility Comparison
Taiwan Semiconductor Manufacturing Company Limited (TSM) has a higher volatility of 12.47% compared to Bitcoin (BTC-USD) at 11.59%. This indicates that TSM'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
| TSM | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.47% | 11.59% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 28.23% | 34.53% | -6.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.40% | 35.67% | +0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.40% | 44.95% | -7.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.20% | 56.71% | -22.51% |
Frequently Asked Questions
TSM and BTC-USD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (12.47%) compared to BTC-USD (11.59%). In terms of maximum drawdown, TSM dropped -89.08% vs BTC-USD's -85.30%.
TSM currently has the higher Sharpe Ratio (3.06 vs -0.95), 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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