ASA vs. BTI

Last updated Jun 13, 2026

ASA (ASA Gold and Precious Metals Limited) and BTI (British American Tobacco p.l.c.) are both stocks. ASA operates in Asset Management (Financial Services), while BTI operates in Tobacco (Consumer Defensive). Over the past 10 years, ASA returned 16.16%/yr vs 7.69%/yr for BTI. At a 0.11 correlation, their price movements are largely independent.

Performance

ASA vs. BTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ASA Gold and Precious Metals Limited (ASA) and British American Tobacco p.l.c. (BTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASA achieves a -3.76% return, which is significantly lower than BTI's 11.67% return. Over the past 10 years, ASA has outperformed BTI with an annualized return of 16.16%, while BTI has yielded a comparatively lower 7.69% annualized return.

ASA

• 1D: 3.28%
• 1M: -11.35%
• YTD: -3.76%
• 6M: -0.75%
• 1Y: 67.58%
• 3Y*: 55.51%
• 5Y*: 18.92%
• 10Y*: 16.16%

BTI

• 1D: 1.51%
• 1M: -4.26%
• YTD: 11.67%
• 6M: 12.20%
• 1Y: 35.30%
• 3Y*: 34.54%
• 5Y*: 17.96%
• 10Y*: 7.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASA vs. BTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASA ASA Gold and Precious Metals Limited	-3.76%	195.60%	34.55%	5.38%	-32.06%	-3.48%	60.65%	44.35%	-16.18%	2.89%
BTI British American Tobacco p.l.c.	11.67%	65.81%	35.44%	-19.97%	14.91%	7.95%	-4.73%	42.97%	-49.35%	24.40%

Correlation

The correlation between ASA and BTI is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Apr 14, 1980	0.11

The correlation between ASA and BTI shifts across timeframes, from 0.10 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ASA : $1.08B BTI : $136.67B
EPS ASA : $42.09 BTI : £4.93
PE Ratio ASA : 1.36 BTI : 9.44
PEG Ratio ASA : 0.00 BTI : 0.35
PS Ratio ASA : 7.87 BTI : 1.99
PB Ratio ASA : 0.98 BTI : 2.13
Total Revenue (TTM) ASA : $137.30M BTI : £51.48B
Gross Profit (TTM) ASA : $3.98M BTI : £42.82B
EBITDA (TTM) ASA : $444.29M BTI : £20.34B

Return for Risk

ASA vs. BTI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASA

ASA Risk / Return Rank: 78
ASA Sharpe Ratio Rank: 83
ASA Sortino Ratio Rank: 75
ASA Omega Ratio Rank: 76
ASA Calmar Ratio Rank: 77
ASA Martin Ratio Rank: 79

BTI

BTI Risk / Return Rank: 81
BTI Sharpe Ratio Rank: 85
BTI Sortino Ratio Rank: 80
BTI Omega Ratio Rank: 77
BTI Calmar Ratio Rank: 81
BTI Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASA vs. BTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ASA Gold and Precious Metals Limited (ASA) and British American Tobacco p.l.c. (BTI). 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.

	ASA	BTI	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.58	-0.11
Sortino ratio: Return per unit of downside risk	1.88	2.21	-0.33
Omega ratio: Gain probability vs. loss probability	1.25	1.26	-0.01
Calmar ratio: Return relative to maximum drawdown	2.04	2.62	-0.58
Martin ratio: Return relative to average drawdown	5.57	5.89	-0.32

ASA vs. BTI - Sharpe Ratio Comparison

The current ASA Sharpe Ratio is 1.48, which is comparable to the BTI Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of ASA and BTI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASA vs. BTI - Drawdown Comparison

The maximum ASA drawdown since its inception was -80.36%, which is greater than BTI's maximum drawdown of -64.11%. Use the drawdown chart below to compare losses from any high point for ASA and BTI.

Drawdown Indicators

	ASA	BTI	Difference
Max Drawdown Largest peak-to-trough decline	-80.36%	-64.11%	-16.25%
Max Drawdown (1Y) Largest decline over 1 year	-35.50%	-13.75%	-21.75%
Max Drawdown (3Y) Largest decline over 3 years	-35.50%	-13.75%	-21.75%
Max Drawdown (5Y) Largest decline over 5 years	-48.93%	-29.94%	-18.99%
Max Drawdown (10Y) Largest decline over 10 years	-51.66%	-56.00%	+4.34%
Current Drawdown Current decline from peak	-29.36%	-6.57%	-22.79%
Average Drawdown Average peak-to-trough decline	-42.53%	-12.93%	-29.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.97%	6.10%	+6.87%

Volatility

ASA vs. BTI - Volatility Comparison

ASA Gold and Precious Metals Limited (ASA) has a higher volatility of 18.26% compared to British American Tobacco p.l.c. (BTI) at 7.53%. This indicates that ASA's price experiences larger fluctuations and is considered to be riskier than BTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASA	BTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.26%	7.53%	+10.73%
Volatility (6M) Calculated over the trailing 6-month period	40.96%	18.39%	+22.57%
Volatility (1Y) Calculated over the trailing 1-year period	49.02%	22.78%	+26.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.54%	21.16%	+14.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.56%	24.20%	+11.36%

Dividends

ASA vs. BTI - Dividend Comparison

ASA's dividend yield for the trailing twelve months is around 0.12%, less than BTI's 4.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASA ASA Gold and Precious Metals Limited	0.12%	0.10%	0.20%	0.13%	0.14%	0.09%	0.09%	0.15%	0.32%	0.35%	0.36%	0.56%
BTI British American Tobacco p.l.c.	4.95%	5.29%	8.18%	9.72%	7.23%	7.98%	7.22%	6.35%	8.53%	4.27%	3.85%	4.11%

Financials

Frequently Asked Questions

Can I hold both ASA and BTI in my portfolio?

ASA and BTI have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASA or BTI?

ASA has higher volatility (18.26%) compared to BTI (7.53%). In terms of maximum drawdown, ASA dropped -80.36% vs BTI's -64.11%.

Which has better risk-adjusted returns?

BTI currently has the higher Sharpe Ratio (1.58 vs 1.48), 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.