BIGC vs. SHOP

Last updated Jun 4, 2026

BIGC (BigCommerce Holdings, Inc.) and SHOP (Shopify Inc.) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 5 years, BIGC returned -43.69%/yr vs -1.30%/yr for SHOP. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

BIGC vs. SHOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BigCommerce Holdings, Inc. (BIGC) and Shopify Inc. (SHOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIGC achieves a -25.24% return, which is significantly higher than SHOP's -29.84% return.

BIGC

• 1D: 4.76%
• 1M: 1.65%
• YTD: -25.24%
• 6M: -33.04%
• 1Y: -39.01%
• 3Y*: -26.09%
• 5Y*: -43.69%
• 10Y*: —

SHOP

• 1D: -3.48%
• 1M: -11.45%
• YTD: -29.84%
• 6M: -29.41%
• 1Y: 7.45%
• 3Y*: 24.67%
• 5Y*: -1.30%
• 10Y*: 43.94%

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

BIGC vs. SHOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BIGC BigCommerce Holdings, Inc.	-25.24%	-32.68%	-37.10%	11.33%	-75.29%	-44.86%	-11.24%
SHOP Shopify Inc.	-29.84%	51.39%	36.50%	124.43%	-74.80%	21.68%	3.41%

Correlation

The correlation between BIGC and SHOP is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Aug 6, 2020	0.54

The correlation between BIGC and SHOP shifts across timeframes, from 0.47 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap BIGC : $253.54M SHOP : $147.20B
EPS BIGC : -$0.19 SHOP : $1.02
PS Ratio BIGC : 0.72 SHOP : 16.06
PB Ratio BIGC : 5.41 SHOP : 11.78
Total Revenue (TTM) BIGC : $346.82M SHOP : $9.20B
Gross Profit (TTM) BIGC : $270.86M SHOP : $5.93B
EBITDA (TTM) BIGC : $3.69M SHOP : $1.60B

Return for Risk

BIGC vs. SHOP — Risk / Return Rank

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

BIGC

BIGC Risk / Return Rank: 15
BIGC Sharpe Ratio Rank: 14
BIGC Sortino Ratio Rank: 15
BIGC Omega Ratio Rank: 16
BIGC Calmar Ratio Rank: 15
BIGC Martin Ratio Rank: 14

SHOP

SHOP Risk / Return Rank: 44
SHOP Sharpe Ratio Rank: 45
SHOP Sortino Ratio Rank: 44
SHOP Omega Ratio Rank: 43
SHOP Calmar Ratio Rank: 44
SHOP Martin Ratio Rank: 44

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.

BIGC vs. SHOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BigCommerce Holdings, Inc. (BIGC) and Shopify Inc. (SHOP). 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.

	BIGC	SHOP	Difference
Sharpe ratio Return per unit of total volatility	-0.64	0.13	-0.77
Sortino ratio Return per unit of downside risk	-0.76	0.60	-1.36
Omega ratio Gain probability vs. loss probability	0.91	1.07	-0.16
Calmar ratio Return relative to maximum drawdown	-0.69	0.16	-0.85
Martin ratio Return relative to average drawdown	-1.23	0.35	-1.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIGC vs. SHOP - Sharpe Ratio Comparison

The current BIGC Sharpe Ratio is -0.64, which is lower than the SHOP Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of BIGC and SHOP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BIGC	SHOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.64	0.13	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.66	-0.02	-0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.57	0.69	-1.27

Drawdowns

BIGC vs. SHOP - Drawdown Comparison

The maximum BIGC drawdown since its inception was -98.26%, which is greater than SHOP's maximum drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for BIGC and SHOP.

Drawdown Indicators

	BIGC	SHOP	Difference
Max Drawdown Largest peak-to-trough decline	-98.26%	-84.82%	-13.44%
Max Drawdown (1Y) Largest decline over 1 year	-55.35%	-46.71%	-8.64%
Max Drawdown (3Y) Largest decline over 3 years	-79.64%	-46.71%	-32.93%
Max Drawdown (5Y) Largest decline over 5 years	-96.55%	-84.82%	-11.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-84.82%	—
Current Drawdown Current decline from peak	-97.82%	-36.91%	-60.91%
Average Drawdown Average peak-to-trough decline	-83.48%	-28.21%	-55.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.85%	21.36%	+9.49%

Volatility

BIGC vs. SHOP - Volatility Comparison

BigCommerce Holdings, Inc. (BIGC) has a higher volatility of 32.16% compared to Shopify Inc. (SHOP) at 24.71%. This indicates that BIGC's price experiences larger fluctuations and is considered to be riskier than SHOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIGC	SHOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.16%	24.71%	+7.45%
Volatility (6M) Calculated over the trailing 6-month period	46.98%	43.60%	+3.38%
Volatility (1Y) Calculated over the trailing 1-year period	59.40%	57.17%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.62%	65.51%	+1.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.28%	59.05%	+14.23%

Dividends

BIGC vs. SHOP - Dividend Comparison

Neither BIGC nor SHOP has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both BIGC and SHOP in my portfolio?

BIGC and SHOP have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIGC or SHOP?

BIGC has higher volatility (32.16%) compared to SHOP (24.71%). In terms of maximum drawdown, BIGC dropped -98.26% vs SHOP's -84.82%.

Which has better risk-adjusted returns?

SHOP currently has the higher Sharpe Ratio (0.13 vs -0.64), 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.