BCOG.L vs. BTC-USD
BCOG.L (L&G All Commodities UCITS ETF) is Commodities fund tracking the Bloomberg Commodity, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, BCOG.L returned 12.02%/yr vs 12.34%/yr for BTC-USD. At a 0.04 correlation, their price movements are largely independent.
Performance
BCOG.L vs. BTC-USD - Performance Comparison
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Different Trading Currencies
BCOG.L is traded in GBp, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, BCOG.L achieves a 23.52% return, which is significantly higher than BTC-USD's -26.97% return.
BCOG.L
- 1D
- 0.10%
- 1M
- -1.59%
- YTD
- 23.52%
- 6M
- 22.25%
- 1Y
- 34.88%
- 3Y*
- 12.12%
- 5Y*
- 12.02%
- 10Y*
- —
BTC-USD
- 1D
- 0.00%
- 1M
- -19.38%
- YTD
- -26.97%
- 6M
- -30.31%
- 1Y
- -39.31%
- 3Y*
- 31.07%
- 5Y*
- 12.34%
- 10Y*
- 60.93%
BCOG.L vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCOG.L L&G All Commodities UCITS ETF | 23.52% | 8.16% | 6.13% | -12.32% | 29.36% | 29.04% | -6.24% | 1.82% | -1.43% | -23.52% |
BTC-USD Bitcoin | -27.84% | -12.95% | 125.81% | 140.73% | -59.81% | 60.91% | 292.68% | 86.71% | -73.15% | 432.81% |
Correlation
The correlation between BCOG.L and BTC-USD is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2017 | 0.04 |
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Return for Risk
BCOG.L vs. BTC-USD — Risk / Return Rank
BCOG.L
BTC-USD
BCOG.L vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G All Commodities UCITS ETF (BCOG.L) and Bitcoin (BTC-USD). 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.
| BCOG.L | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.81 | ||
| Sortino ratioReturn per unit of downside risk | +3.67 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.86 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 4.05 | -0.78 | +4.83 |
| Martin ratioReturn relative to average drawdown | 9.26 | -1.38 | +10.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BCOG.L | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | -0.94 | +2.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.23 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.90 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 1.15 | -0.92 |
Drawdowns
BCOG.L vs. BTC-USD - Drawdown Comparison
The maximum BCOG.L drawdown since its inception was -40.03%, smaller than the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for BCOG.L and BTC-USD.
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Drawdown Indicators
| BCOG.L | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.03% | -84.19% | +44.16% |
Max Drawdown (1Y)Largest decline over 1 year | -8.57% | -50.55% | +41.98% |
Max Drawdown (3Y)Largest decline over 3 years | -26.54% | -50.55% | +24.01% |
Max Drawdown (5Y)Largest decline over 5 years | -27.76% | -73.24% | +45.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.15% | — |
Current DrawdownCurrent decline from peak | -6.27% | -48.74% | +42.47% |
Average DrawdownAverage peak-to-trough decline | -19.08% | -40.30% | +21.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 34.17% | -30.41% |
Volatility
BCOG.L vs. BTC-USD - Volatility Comparison
The current volatility for L&G All Commodities UCITS ETF (BCOG.L) is 5.54%, while Bitcoin (BTC-USD) has a volatility of 11.65%. This indicates that BCOG.L experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCOG.L | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.54% | 11.65% | -6.11% |
Volatility (6M)Calculated over the trailing 6-month period | 15.94% | 33.91% | -17.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.56% | 34.77% | -16.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.51% | 44.72% | -23.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.89% | 56.05% | -36.16% |
Frequently Asked Questions
BCOG.L and BTC-USD have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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