ARRY vs. BTG
ARRY (Array Technologies, Inc.) and BTG (B2Gold Corp.) are both stocks. ARRY operates in Solar (Technology), while BTG operates in Gold (Basic Materials). Over the past 5 years, ARRY returned -13.61%/yr vs 1.08%/yr for BTG. At a 0.16 correlation, their price movements are largely independent.
Performance
ARRY vs. BTG - Performance Comparison
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Returns By Period
In the year-to-date period, ARRY achieves a -15.73% return, which is significantly lower than BTG's -5.82% return.
ARRY
- 1D
- 4.30%
- 1M
- -11.60%
- YTD
- -15.73%
- 6M
- -8.80%
- 1Y
- 4.58%
- 3Y*
- -29.95%
- 5Y*
- -13.61%
- 10Y*
- —
BTG
- 1D
- 2.93%
- 1M
- -21.06%
- YTD
- -5.82%
- 6M
- -7.67%
- 1Y
- 15.53%
- 3Y*
- 8.86%
- 5Y*
- 1.08%
- 10Y*
- 9.37%
ARRY vs. BTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ARRY Array Technologies, Inc. | -15.73% | 52.65% | -64.05% | -13.09% | 23.20% | -63.63% | 46.24% |
BTG B2Gold Corp. | -5.82% | 88.95% | -18.07% | -7.22% | -5.13% | -26.97% | -19.99% |
Correlation
The correlation between ARRY and BTG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.16 |
The correlation between ARRY and BTG shifts across timeframes, from 0.16 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
ARRY:
$1.19B
BTG:
$6.32B
ARRY:
-$0.44
BTG:
$0.36
ARRY:
0.99
BTG:
1.74
ARRY:
$1.21B
BTG:
$3.67B
ARRY:
$269.92M
BTG:
$1.89B
ARRY:
$5.35M
BTG:
$1.96B
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Return for Risk
ARRY vs. BTG — Risk / Return Rank
ARRY
BTG
ARRY vs. BTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Array Technologies, Inc. (ARRY) and B2Gold Corp. (BTG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ARRY | BTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.10 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 0.42 | -0.32 |
| Martin ratioReturn relative to average drawdown | 0.20 | 0.83 | -0.64 |
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Drawdowns
ARRY vs. BTG - Drawdown Comparison
The maximum ARRY drawdown since its inception was -92.20%, which is greater than BTG's maximum drawdown of -85.97%. Use the drawdown chart below to compare losses from any high point for ARRY and BTG.
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Drawdown Indicators
| ARRY | BTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.20% | -85.97% | -6.23% |
Max Drawdown (1Y)Largest decline over 1 year | -44.31% | -36.97% | -7.34% |
Max Drawdown (3Y)Largest decline over 3 years | -84.88% | -36.97% | -47.91% |
Max Drawdown (5Y)Largest decline over 5 years | -85.31% | -48.92% | -36.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.35% | — |
Current DrawdownCurrent decline from peak | -84.78% | -31.60% | -53.18% |
Average DrawdownAverage peak-to-trough decline | -68.90% | -38.35% | -30.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.24% | 18.70% | +4.54% |
Volatility
ARRY vs. BTG - Volatility Comparison
Array Technologies, Inc. (ARRY) has a higher volatility of 24.08% compared to B2Gold Corp. (BTG) at 15.76%. This indicates that ARRY's price experiences larger fluctuations and is considered to be riskier than BTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARRY | BTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.08% | 15.76% | +8.32% |
Volatility (6M)Calculated over the trailing 6-month period | 63.54% | 44.50% | +19.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 85.05% | 55.48% | +29.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.61% | 44.82% | +36.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.77% | 48.23% | +34.54% |
Dividends
ARRY vs. BTG - Dividend Comparison
ARRY has not paid dividends to shareholders, while BTG's dividend yield for the trailing twelve months is around 1.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ARRY Array Technologies, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BTG B2Gold Corp. | 1.90% | 1.77% | 6.56% | 5.06% | 4.48% | 4.07% | 1.96% | 0.25% |
Financials
ARRY vs. BTG - Financials Comparison
This section allows you to compare key financial metrics between Array Technologies, Inc. and B2Gold Corp.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ARRY vs. BTG - Profitability Comparison
ARRY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Array Technologies, Inc. reported a gross profit of 63.00M and revenue of 223.41M. Therefore, the gross margin over that period was 28.2%.
BTG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, B2Gold Corp. reported a gross profit of 601.32M and revenue of 1.14B. Therefore, the gross margin over that period was 52.6%.
ARRY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Array Technologies, Inc. reported an operating income of 7.11M and revenue of 223.41M, resulting in an operating margin of 3.2%.
BTG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, B2Gold Corp. reported an operating income of 572.52M and revenue of 1.14B, resulting in an operating margin of 50.1%.
ARRY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Array Technologies, Inc. reported a net income of 2.00M and revenue of 223.41M, resulting in a net margin of 0.9%.
BTG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, B2Gold Corp. reported a net income of 197.17M and revenue of 1.14B, resulting in a net margin of 17.3%.
Frequently Asked Questions
ARRY and BTG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARRY has higher volatility (24.08%) compared to BTG (15.76%). In terms of maximum drawdown, ARRY dropped -92.20% vs BTG's -85.97%.
BTG currently has the higher Sharpe Ratio (0.28 vs 0.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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