BKKT vs. COIN

Last updated Jun 9, 2026

BKKT (Bakkt Holdings, Inc.) and COIN (Coinbase Global, Inc.) are both stocks. BKKT operates in Software - Infrastructure (Technology), while COIN operates in Financial Data & Stock Exchanges (Financial Services). Over the past 5 years, BKKT returned -50.00%/yr vs -6.29%/yr for COIN. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

BKKT vs. COIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bakkt Holdings, Inc. (BKKT) and Coinbase Global, Inc. (COIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKKT achieves a -19.22% return, which is significantly higher than COIN's -28.31% return.

BKKT

• 1D: 3.58%
• 1M: -17.66%
• YTD: -19.22%
• 6M: -36.44%
• 1Y: -41.70%
• 3Y*: -38.43%
• 5Y*: -50.00%
• 10Y*: —

COIN

• 1D: 6.37%
• 1M: -19.41%
• YTD: -28.31%
• 6M: -40.88%
• 1Y: -35.48%
• 3Y*: 44.90%
• 5Y*: -6.29%
• 10Y*: —

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

BKKT vs. COIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BKKT Bakkt Holdings, Inc.	-19.22%	-59.47%	-55.57%	87.39%	-86.02%	-35.92%
COIN Coinbase Global, Inc.	-28.31%	-8.92%	42.77%	391.44%	-85.98%	-23.12%

Correlation

The correlation between BKKT and COIN is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021	0.55

The correlation between BKKT and COIN has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.

Fundamentals

EPS BKKT : -$18.68 COIN : $2.90
PS Ratio BKKT : 0.04 COIN : 7.70
Total Revenue (TTM) BKKT : $1.28B COIN : $5.81B
Gross Profit (TTM) BKKT : $470.36M COIN : $4.65B
EBITDA (TTM) BKKT : -$124.76M COIN : $1.68B

Return for Risk

BKKT vs. COIN — Risk / Return Rank

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

BKKT

BKKT Risk / Return Rank: 35
BKKT Sharpe Ratio Rank: 30
BKKT Sortino Ratio Rank: 45
BKKT Omega Ratio Rank: 44
BKKT Calmar Ratio Rank: 25
BKKT Martin Ratio Rank: 30

COIN

COIN Risk / Return Rank: 23
COIN Sharpe Ratio Rank: 20
COIN Sortino Ratio Rank: 22
COIN Omega Ratio Rank: 24
COIN Calmar Ratio Rank: 23
COIN Martin Ratio Rank: 25

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.

BKKT vs. COIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bakkt Holdings, Inc. (BKKT) and Coinbase Global, Inc. (COIN). 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.

	BKKT	COIN	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	-0.51	+0.23
Sortino ratio: Return per unit of downside risk	0.59	-0.41	+1.00
Omega ratio: Gain probability vs. loss probability	1.07	0.95	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.49	-0.54	+0.04
Martin ratio: Return relative to average drawdown	-0.67	-0.88	+0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKKT vs. COIN - Sharpe Ratio Comparison

The current BKKT Sharpe Ratio is -0.28, which is higher than the COIN Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of BKKT and COIN, 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

	BKKT	COIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.28	-0.51	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	-0.07	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	-0.26	-0.15	-0.11

Drawdowns

BKKT vs. COIN - Drawdown Comparison

The maximum BKKT drawdown since its inception was -99.41%, which is greater than COIN's maximum drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for BKKT and COIN.

Drawdown Indicators

	BKKT	COIN	Difference
Max Drawdown Largest peak-to-trough decline	-99.41%	-90.90%	-8.51%
Max Drawdown (1Y) Largest decline over 1 year	-84.57%	-66.39%	-18.18%
Max Drawdown (3Y) Largest decline over 3 years	-89.36%	-66.39%	-22.97%
Max Drawdown (5Y) Largest decline over 5 years	-99.41%	-90.90%	-8.51%
Current Drawdown Current decline from peak	-99.24%	-61.38%	-37.86%
Average Drawdown Average peak-to-trough decline	-84.80%	-49.86%	-34.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.74%	40.25%	+22.49%

Volatility

BKKT vs. COIN - Volatility Comparison

Bakkt Holdings, Inc. (BKKT) has a higher volatility of 39.68% compared to Coinbase Global, Inc. (COIN) at 21.42%. This indicates that BKKT's price experiences larger fluctuations and is considered to be riskier than COIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKKT	COIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	39.68%	21.42%	+18.26%
Volatility (6M) Calculated over the trailing 6-month period	81.06%	51.58%	+29.48%
Volatility (1Y) Calculated over the trailing 1-year period	149.68%	70.60%	+79.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	189.62%	85.93%	+103.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	183.12%	85.40%	+97.72%

Dividends

BKKT vs. COIN - Dividend Comparison

Neither BKKT nor COIN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both BKKT and COIN in my portfolio?

BKKT and COIN have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKKT or COIN?

BKKT has higher volatility (39.68%) compared to COIN (21.42%). In terms of maximum drawdown, BKKT dropped -99.41% vs COIN's -90.90%.

Which has better risk-adjusted returns?

BKKT currently has the higher Sharpe Ratio (-0.28 vs -0.51), 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.