Odaily News Bitcoin has risen more than 40% this year, outperforming major stock indexes, fixed-income securities, gold and even oil, which has recently risen on geopolitical tensions, according to Goldman Sachs analysis. However, its outstanding performance is not enough to make up for its volatility, according to data tracked by Goldman Sachs. Bitcoin's volatility-adjusted return so far this year is less than 10%, far lower than gold's industry-leading risk-adjusted return of nearly 20%. Gold has risen 28% in absolute terms. The relatively low risk-adjusted performance confirms the long-standing view of cryptocurrency skeptics that Bitcoin is too volatile to be a safe haven like gold. (Coindesk)