The vast majority of assets have shown a significant drop since the onset of the massive coronavirus pandemic. Bitcoin and Ethereum were among the outsiders, said Larry Cermak, an analyst of The Block.
S&P 500 is down 25% since the peak but what about all the other indices, sectors and commodities? Gold is the only best performing asset with a return of 0.3% since February. Ethereum is nearly the worst-performing. Only beat by oil. Bitcoin is also among the worst-performers pic.twitter.com/gvskZAtncZ— Larry Cermak (@lawmaster) March 30, 2020
Cermak provides comparative statistics on the return on various assets between February 19 and March 30. Crude oil has the worst performance (a drop of 62%), followed by Ethereum in terms of loss (-49.4%), for Bitcoin this figure is -34.7%.
The analyst emphasized that the last time oil fell so much more than 18 years ago.
Last time oil was this low was on February 8, 2002. More than 18 years ago pic.twitter.com/MQZG9GEJsy— Larry Cermak (@lawmaster) March 30, 2020
The only asset that showed a return, albeit a small one (0.3%), was gold.
The analyst also noted that biotechnology was the most successful investment sector, but energy and finance were outsiders.