Benchmarks
How Coinrule compares your strategy P&L against BTC (crypto) or S&P 500 (stocks) since launch.
Coinrule automatically compares your strategy's return against a passive benchmark — BTC/USD for crypto and S&P 500 for stocks — displayed on both the strategy detail page and the portfolio chart. Three account categories each have a default benchmark, and 4 comparison scenarios help you interpret whether your strategy added real value over passive holding.
What is the benchmark?
The benchmark is a reference return: "if you had simply bought and held the underlying asset instead of running this strategy, what would your return have been?"
Coinrule shows this on both the strategy detail page and the portfolio chart.
What are the default benchmarks?
| Account type | Default benchmark |
|---|---|
| Crypto exchanges (Binance, Kraken, etc.) | BTC/USD |
| Hyperliquid | BTC/USD |
| Stocks / ETFs (Trading 212) | S&P 500 (SPY) |
Why BTC?
BTC is used as the crypto benchmark because it's the most liquid and widely-held asset. A strategy that returns 15% when BTC returned 60% has underperformed on a risk-adjusted basis — you would have done better just holding BTC.
How do I change the benchmark?
Click the benchmark label on the strategy chart to switch to:
- ETH/USD
- SOL/USD
- QQQ (for tech-heavy stock strategies)
The setting is per-strategy and persists.
How do I interpret the comparison?
| Scenario | Interpretation |
|---|---|
| Strategy > benchmark | Added value over passive holding |
| Strategy < benchmark | Underperformed passive holding |
| Strategy positive, benchmark negative | Strategy protected downside |
| Both negative | Market correction; compare max drawdown |
The benchmark comparison is most meaningful over periods > 30 days. Short-term comparisons can be misleading due to timing of entries/exits.