BMY vs. BITB
BMY (Bristol-Myers Squibb Company) is a stock, while BITB (Bitwise Bitcoin ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Over the past year, BMY returned 20.57% vs -39.67% for BITB. At a 0.06 correlation, their price movements are largely independent.
Performance
BMY vs. BITB - Performance Comparison
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Returns By Period
In the year-to-date period, BMY achieves a 8.27% return, which is significantly higher than BITB's -27.42% return.
BMY
- 1D
- 0.40%
- 1M
- 0.23%
- YTD
- 8.27%
- 6M
- 11.43%
- 1Y
- 20.57%
- 3Y*
- 0.45%
- 5Y*
- 0.73%
- 10Y*
- 1.00%
BITB
- 1D
- 0.03%
- 1M
- -19.63%
- YTD
- -27.42%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMY vs. BITB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BMY Bristol-Myers Squibb Company | 8.27% | 0.11% | 15.95% |
BITB Bitwise Bitcoin ETF | -27.42% | -6.47% | 89.74% |
Correlation
The correlation between BMY and BITB 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 (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.06 |
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Return for Risk
BMY vs. BITB — Risk / Return Rank
BMY
BITB
BMY vs. BITB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bristol-Myers Squibb Company (BMY) and Bitwise Bitcoin ETF (BITB). 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.
| BMY | BITB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.61 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.85 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | -0.78 | +2.31 |
| Martin ratioReturn relative to average drawdown | 3.32 | -1.37 | +4.69 |
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Drawdowns
BMY vs. BITB - Drawdown Comparison
The maximum BMY drawdown since its inception was -72.03%, which is greater than BITB's maximum drawdown of -52.04%. Use the drawdown chart below to compare losses from any high point for BMY and BITB.
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Drawdown Indicators
| BMY | BITB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.03% | -52.04% | -19.99% |
Max Drawdown (1Y)Largest decline over 1 year | -12.05% | -52.04% | +39.99% |
Max Drawdown (3Y)Largest decline over 3 years | -36.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -47.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.67% | — | — |
Current DrawdownCurrent decline from peak | -17.79% | -49.44% | +31.65% |
Average DrawdownAverage peak-to-trough decline | -22.38% | -16.54% | -5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.34% | 29.62% | -23.28% |
Volatility
BMY vs. BITB - Volatility Comparison
The current volatility for Bristol-Myers Squibb Company (BMY) is 8.22%, while Bitwise Bitcoin ETF (BITB) has a volatility of 11.94%. This indicates that BMY experiences smaller price fluctuations and is considered to be less risky than BITB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMY | BITB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.22% | 11.94% | -3.72% |
Volatility (6M)Calculated over the trailing 6-month period | 18.18% | 34.40% | -16.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.08% | 43.98% | -16.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.02% | 50.04% | -26.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.29% | 50.04% | -24.75% |
Dividends
BMY vs. BITB - Dividend Comparison
BMY's dividend yield for the trailing twelve months is around 4.38%, while BITB has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITB Bitwise Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BMY Bristol-Myers Squibb Company | 4.38% | 4.60% | 4.24% | 4.44% | 3.00% | 2.36% | 3.69% | 2.55% | 3.08% | 2.55% | 1.95% | 2.17% |
Frequently Asked Questions
BMY and BITB 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.
BITB has higher volatility (11.94%) compared to BMY (8.22%). In terms of maximum drawdown, BMY dropped -72.03% vs BITB's -52.04%.
BMY currently has the higher Sharpe Ratio (0.68 vs -0.93), 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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