BTC: Price Sharpe - 365 Days, Zero Benchmark

Bitcoin Sharpe Ratio (365 Days) was -0.483 on 7 Nov 2026 (latest daily value).

Bitcoin's Sharpe ratio over the last year: its average daily return divided by how much those returns swung, scaled to a year.

Why use it. It shows whether bitcoin's gains have been worth its volatility: high readings mean strong, steady gains, negative ones a losing year. How to read it. Above zero, the past year's average day was a gain; below zero, a loss. It measures against zero rather than a cash rate. It is history, not a forecast.

Calculation. Exact definition: BTC's mean daily simple USD return divided by the standard deviation of those returns over the trailing 365 closed UTC days, scaled by the square root of 365, with a zero benchmark. Positive values mean the window's mean daily return was above zero, negative values below zero. The benchmark is explicitly zero, not an observed risk-free rate, and square-root-of-time annualization does not model serial correlation or compounded annual return. Daily only, the open day a labelled partial; the open day is a labelled partial. A missing daily price invalidates every window containing it, and zero standard deviation is undefined. Quoted inputs are provisional and revisable. From 366 adjacent closed UTC daily prices, form 365 simple returns r = P(t)/P(t-1) - 1, then take sqrt(365) × mean(r) / sample standard deviation(r), with variance divisor 364, in 40-significant-digit decimal arithmetic. The window is 365 fixed UTC days, not a leap-adjusted year. Each day uses the admitted BTC/USD quote at its ending UTC boundary: retrospective admitted daily closing quotes before 2026-10-03, with unknown release time, vintage and venue, then admitted prospective quotes at or before the boundary, at most 900 seconds old, with no interpolation.