SUI vs SOL: Crypto Returns, Risk & Volatility (2026)

Q: Which is a better investment: SUI or SOL?

Over the past year, SOL looks like the better investment: it had higher total return (SOL -53.8% vs SUI -69.8%) and a higher Sharpe ratio (SOL -0.52 vs SUI -0.68). On risk, SOL was less volatile (SOL 85.7% vs SUI 103.7%), SOL had a smaller max drawdown (SOL -68.6% vs SUI -79.3%), and SOL had less severe losses on the worst 5% of days (Expected Shortfall of SOL -10.50% vs SUI -12.36%).

Written by Gale Finance Team

Reviewed by Sid Kalla CFA Charterholder

Quick answer

Which is a better investment: SUI or SOL?

Over the past year, SOL outperformed (-69.8% vs -53.8%) with a Sharpe ratio of -0.52.

Total Return

SUI -69.8%

SOL WIN -53.8%

Sharpe Ratio

SUI -0.68

SOL WIN -0.52

Annualized Volatility

SUI 103.7%

SOL WIN 85.7%

Max Drawdown

SUI -79.3%

SOL WIN -68.6%

Analysis period: 2025-02-15 to 2026-02-14

SUI Total Return

↓ -69.8%

SOL Total Return

↓ -53.8%

Relative Performance of SUI vs SOL (Normalized to 100)

SUI SOL

Normalized to 100 at start date for comparison

Key Takeaways

Total Return: SUI delivered a -69.8% total return, while SOL returned -53.8% over the same period. SOL outperformed on total returns.
Risk-Adjusted Return (Sharpe Ratio): Both Sharpe ratios were negative (SOL -0.52 vs SUI -0.68), meaning both underperformed the risk-free rate; SOL was less negative.
Volatility (Annualized): SUI was more volatile, with 103.7% annualized volatility, versus 85.7% for SOL.
Maximum Drawdown: SOL's maximum drawdown was -68.6%, while SUI experienced a deeper drawdown of -79.3%.
Tail Risk (VaR & Expected Shortfall): At the 5% level (daily log returns), SUI's VaR was -7.56% and its Expected Shortfall (CVaR) was -12.36%; SOL's were -6.95% and -10.50%. VaR is the cutoff; Expected Shortfall is the average move on the worst days.
Skew & Kurtosis: Skew: SUI -0.03 vs SOL -0.20. Excess kurtosis: SUI 2.83 vs SOL 3.44. Negative skew leans downside; higher excess kurtosis means fatter tails.
Tail Days & Extremes: 2σ tail days (down/up): SUI 8/11, SOL 9/9. Worst day: SUI -22.79% (2025-10-10) vs SOL -20.01% (2025-03-03). Best day: SUI +22.16% (2025-04-22) vs SOL +24.25% (2025-03-02).
Risk ratios: Sortino - SUI: -0.98 vs. SOL: -0.74 , Calmar - SUI: -0.88 vs. SOL: -0.79 , Sterling - SUI: -1.70 vs. SOL: -1.27 , Treynor - SUI: -0.27 vs. SOL: -0.34 , Ulcer Index - SUI: 40.62% vs. SOL: 31.78%

Sui vs Solana Correlation

0.83 Average Correlation

Sui and Solana are strongly correlated over the past year. With a correlation of 0.83, these assets tend to move together, limiting diversification benefits.

For portfolio construction, this strong correlation means holding both SUI and SOL provides limited risk reduction — they're likely to decline together in downturns.

Metric	Value
Current (30-day)	0.93
Average (full period)	0.83
Minimum	0.46
Maximum	0.94

Correlation measures how closely two assets move together. Values near +1 indicate strong co-movement, near 0 indicates independence, and negative values indicate inverse movement.

Investment Comparison

If you invested $10,000 in each asset on February 15, 2025:

SUI $3,021.55 -69.8%

SOL $4,623.07 -53.8%

Difference: $1,601.52 (SOL ahead)

Trade SUI or SOL

Access these assets on trusted platforms.

Binance

SUISOLTrade on Binance

Affiliate disclosure

Sui and Solana: Risk Analysis

Sui experienced its maximum drawdown of -79.3% from 2025-07-27 to 2026-02-10. It has not yet recovered to its previous peak.

Solana experienced its maximum drawdown of -68.6% from 2025-09-18 to 2026-02-11. It has not yet recovered to its previous peak.

Smaller drawdowns and faster recoveries indicate lower downside risk and greater resilience during market stress.

Sharpe Ratio of SUI and SOL

SUI Sharpe Ratio

↓ -0.68

SOL Sharpe Ratio

↓ -0.52

Sharpe ratio measures return per unit of risk (volatility). A higher Sharpe indicates better risk-adjusted performance. Both Sharpe ratios were negative (SOL -0.52 vs SUI -0.68), meaning both underperformed the risk-free rate; SOL was less negative.

A Sharpe above 1.0 is generally considered good, above 2.0 is excellent. Negative Sharpe means the asset underperformed the risk-free rate. Calculated on each asset's full 365-day lookback of available prices and annualized using the asset calendar (365 for crypto, 252 trading days for equities/ETFs/metals).

Sortino Ratio of SUI and SOL

SUI Sortino Ratio

↓ -0.98

SOL Sortino Ratio

↓ -0.74

Sortino ratio measures return per unit of downside risk. Unlike Sharpe, it only counts downside deviation (returns below the target return). SOL had better downside-adjusted returns.

A higher Sortino is better. It's useful when upside volatility is common (crypto is the obvious example). Downside deviation: SUI 71.8% vs SOL 60.9%. Calculated on each asset's full 365-day lookback of available prices, using the daily risk-free rate as the target return, and annualized using the asset calendar (365 for crypto, 252 trading days for equities/ETFs/metals).

Calmar Ratio of SUI and SOL

SUI Calmar Ratio

↓ -0.88

SOL Calmar Ratio

↓ -0.79

Calmar ratio compares CAGR to maximum drawdown. Higher Calmar means more return per unit of worst drawdown. SOL posted the higher Calmar ratio.

Calmar is computed on each asset's full 365-day lookback and uses the max drawdown over that same window.

Sterling Ratio of SUI and SOL

SUI Sterling Ratio

↓ -1.70

SOL Sterling Ratio

↓ -1.27

Sterling ratio measures excess return per unit of average drawdown (typically drawdowns worse than 10%). SOL posted the higher Sterling ratio.

Sterling uses average drawdown events deeper than 10% and subtracts the risk-free rate to report excess return.

Treynor Ratio of SUI and SOL

SUI Treynor Ratio

↓ -0.27

SOL Treynor Ratio

↓ -0.34

Treynor ratio measures excess return per unit of market risk (beta) instead of total volatility. SUI posted the higher Treynor ratio.

Treynor uses beta vs the S&P 500 (SPY) on shared dates and the average 3-month Treasury rate as the risk-free rate.

Ulcer Index of SUI and SOL

SUI Ulcer Index

40.62%

SOL Ulcer Index

31.78%

Ulcer Index captures drawdown depth and duration. Lower Ulcer Index means less drawdown pain. SOL had the lower Ulcer Index (less drawdown pain).

Ulcer Index is computed from each asset's drawdown series over the full lookback window.

Tail Risk & Distribution Shape (1-Year): Sui vs. Solana

This section looks at the shape of daily returns, not just the average. Tail stats are computed per asset on its own daily series (crypto includes weekends). We use daily log returns $\ln\left(\frac{P_t}{P_{t-1}}\right)$ so multi-day moves add cleanly.

Definitions: Value at Risk (VaR), Expected Shortfall, skew, kurtosis, and fat tails.

Metric (1-Year)	SUI	SOL
5% VaR (daily log return)	-7.56%	-6.95%
5% Expected Shortfall (CVaR)	-12.36% (worst 19 days)	-10.50% (worst 19 days)
Skew	-0.03	-0.20
Excess kurtosis	2.83	3.44
2σ tail days (down / up)	8 / 11	9 / 9
Worst day	-22.79% (2025-10-10)	-20.01% (2025-03-03)
Best day	+22.16% (2025-04-22)	+24.25% (2025-03-02)

Downside co-moves (2σ) — 1-Year

Computed on shared dates only (n=364). A “2σ downside move” means a shared-close log return more than 2 standard deviations below that asset’s own mean on this shared-date series. Dates below show simple returns (%) for readability.

When SOL has a big down day, SUI also does

77.8%

7 / 9 days

When SUI has a big down day, SOL also does

87.5%

7 / 8 days

Show downside tail dates

Dates below are shared-date observations. The “Date” is the period end (close). Tail thresholds are computed on log returns, but the table shows simple returns (%) for readability. Returns are computed from the previous shared close to this one (for example, Friday → Monday includes weekend moves).

Days when both SUI and SOL had a big down day (2σ)

Date (interval)	SUI	SOL
2025-02-24	-16.13%	-16.02%
2025-03-03	-18.16%	-20.01%
2025-04-06	-13.48%	-11.99%
2025-10-10	-22.79%	-14.00%
2025-11-03	-12.19%	-11.36%
2026-01-30	-11.86%	-11.27%
2026-02-04	-16.35%	-12.17%

Days when SUI had a big down day

Date (interval)	SUI	SOL
2025-02-24	-16.13%	-16.02%
2025-03-03	-18.16%	-20.01%
2025-04-06	-13.48%	-11.99%
2025-10-10	-22.79%	-14.00%
2025-11-03	-12.19%	-11.36%
2026-01-18	-12.24%	-7.26%
2026-01-30	-11.86%	-11.27%
2026-02-04	-16.35%	-12.17%

Days when SOL had a big down day

Date (interval)	SUI	SOL
2025-02-24	-16.13%	-16.02%
2025-03-03	-18.16%	-20.01%
2025-04-06	-13.48%	-11.99%
2025-08-25	-9.17%	-9.08%
2025-09-25	-7.52%	-9.18%
2025-10-10	-22.79%	-14.00%
2025-11-03	-12.19%	-11.36%
2026-01-30	-11.86%	-11.27%
2026-02-04	-16.35%	-12.17%

Read this as “how ugly the ugly days get”, not as a precise forecast. One-year samples are small, so tail estimates are inherently noisy.

Sui vs Solana Volatility (SUI vs SOL)

SUI Volatility

103.7%

±5.43% daily

SOL Volatility

85.7%

±4.48% daily

Typical daily swing

SUI

±5.43%

SOL

±4.48%

Sui's annualized volatility of 103.7% means it typically moves ±5.43% on any given day.

Solana's annualized volatility of 85.7% means it typically moves ±4.48% on any given day.

SUI's higher volatility means a wider path to returns — this can be attractive for tactical, shorter-term exposure, while SOL's smoother profile may better suit long-term allocators seeking steadier growth.

For comparison, the S&P 500 typically has 15-18% annualized volatility, translating to roughly ±1% daily moves. Higher volatility means larger potential gains but also larger potential losses.

Sui vs Solana Performance Over Time

Metric	SUI	SOL
30 Days	-42.1%	-36.8%
90 Days	-38.7%	-34.6%
180 Days	-71.3%	-50.9%
1 Year	-69.8%	-53.8%

Shorter time frames can show different leaders as market conditions change. Consider your investment horizon when comparing performance.

Full Comparison of Sui vs. Solana (1-Year)

Metric	SUI	SOL
Total Return	-69.8%	-53.8%
Annualized Volatility	103.7%	85.7%
Sharpe Ratio	-0.68	-0.52
Sortino Ratio	-0.98	-0.74
Calmar Ratio	-0.88	-0.79
Sterling Ratio	-1.70	-1.27
Treynor Ratio	-0.27	-0.34
Ulcer Index	40.62%	31.78%
Max Drawdown	-79.3%	-68.6%
Avg Correlation to S&P 500	0.48	0.45
5% VaR (daily log return)	-7.56%	-6.95%
5% Expected Shortfall (CVaR)	-12.36%	-10.50%
Skew	-0.03	-0.20
Excess kurtosis	2.83	3.44
2σ tail days (down / up)	8 / 11	9 / 9

Audit this calculation

Formulas, inputs, and conventions used to compute the metrics on this page.

Inputs & conventions

Shared window for pair metrics: 2025-02-15 → 2026-02-14 (last shared close).
Rolling correlation sample (shared closes): 335 rolling 30-day values (from 364 shared daily returns).
Annualization (days/year): SUI: 365 days/year; SOL: 365 days/year.
Risk-free rate: Uses the 3-month U.S. Treasury yield (FRED: DGS3MO), averaged over each asset’s window:

SUI: 4.20% over 2025-02-15 → 2026-02-14.

SOL: 4.20% over 2025-02-15 → 2026-02-14.
Volatility drag (rule of thumb): Estimated from annualized volatility (simple returns). For the log-return framing, see Log returns.

SUI: ≈ -53.8%/yr

SOL: ≈ -36.7%/yr
Data alignment: No forward fill. Correlation and tail co-moves are computed on shared closes only.
For cross-calendar pairs (e.g., crypto vs stocks), weekend/holiday moves roll into the next shared close.
Return conventions: Volatility/Sharpe/Sortino use simple daily returns. Tail-risk uses daily log returns for distribution stats (but tables show simple returns). Log returns.

Formulas

Daily simple return

r_t = \frac{P_t}{P_{t-1}} - 1

Volatility

\sigma_{ann} = \sigma(r_t)\sqrt{A}

Volatility drag (approx.)

\text{drag} \approx \tfrac{1}{2}\sigma_{ann}^2

Sharpe Ratio

S = \frac{A\,\bar{r} - r_f}{\sigma(r_t)\sqrt{A}}

Sortino Ratio

So = \frac{A\,\bar{r} - r_f}{\sqrt{\mathbb{E}[\min(0,\,r_t - r_f/A)^2]}\,\sqrt{A}}

Maximum Drawdown

MDD = \min_t\left(\frac{P_t}{\max_{s \le t} P_s} - 1\right)

Average Correlation

\rho = \frac{\operatorname{cov}(r^A,\,r^B)}{\sigma_A\,\sigma_B}

Log returns

\ell_t = \ln\left(\frac{P_t}{P_{t-1}}\right)

Notation

$P_t$: Price on day t.
$r_t$: Simple daily return.
$\ell_t$: Log daily return.
$\bar{r}$: Average daily return.
$\sigma(r_t)$: Standard deviation of daily returns.
$A$: Annualization factor (days/year).
$r_f$: Annual risk-free rate.

Sui vs Solana: Frequently Asked Questions

Which has higher volatility: SUI or SOL?

SUI showed higher volatility at 103.7% annualized, compared to 85.7% for SOL Over the past year. Higher volatility means larger price swings in both directions.

Does SUI provide diversification when held with SOL?

SUI and SOL are strongly correlated over the past year, with an average correlation of 0.83. This strong correlation limits diversification benefits.

How bad are the worst 5% days for SUI vs SOL?

Over the past year, SUI's 5% VaR was -7.56% and its 5% Expected Shortfall was -12.36% (worst 19 days). SOL's were -6.95% and -10.50% (worst 19 days).

Do SUI and SOL crash together on bad days?

On shared dates (n=364), when SOL has a 2σ down day, SUI also does 77.8% (7/9 days). In the other direction, when SUI has one, SOL also does 87.5% (7/8 days).

Which has better risk-adjusted returns: SUI or SOL?

Both assets posted negative Sharpe ratios Over the past year (SOL -0.52 vs SUI -0.68), meaning both underperformed the risk-free rate; SOL was less negative.

Can SUI and SOL be combined in a portfolio?

Yes, though allocation sizing matters. Their strong correlation provides limited risk reduction since they tend to move together. SUI's higher volatility (103.7%) means even small allocations can materially impact overall portfolio risk.