BOIL vs. CVNA
BOIL (ProShares Ultra Bloomberg Natural Gas) is Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while CVNA (Carvana Co.) is a stock. Over the past 5 years, BOIL returned -66.45%/yr vs 1.98%/yr for CVNA. At a correlation of -0.01, they often move in opposite directions.
Performance
BOIL vs. CVNA - Performance Comparison
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Returns By Period
In the year-to-date period, BOIL achieves a -38.54% return, which is significantly lower than CVNA's -21.57% return.
BOIL
- 1D
- 0.11%
- 1M
- 11.09%
- YTD
- -38.54%
- 6M
- -41.03%
- 1Y
- -71.62%
- 3Y*
- -66.38%
- 5Y*
- -66.45%
- 10Y*
- -57.86%
CVNA
- 1D
- -2.52%
- 1M
- -5.63%
- YTD
- -21.57%
- 6M
- -25.04%
- 1Y
- 4.83%
- 3Y*
- 151.09%
- 5Y*
- 1.98%
- 10Y*
- —
BOIL vs. CVNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -38.54% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -46.24% |
CVNA Carvana Co. | -21.57% | 107.52% | 284.13% | 1,016.88% | -97.96% | -3.24% | 160.23% | 181.41% | 71.08% | 41.63% |
Correlation
The correlation between BOIL and CVNA 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 | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017 | -0.01 |
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Return for Risk
BOIL vs. CVNA — Risk / Return Rank
BOIL
CVNA
BOIL vs. CVNA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and Carvana Co. (CVNA). 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.
| BOIL | CVNA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.07 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 0.12 | -1.04 |
| Martin ratioReturn relative to average drawdown | -1.28 | 0.25 | -1.52 |
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Drawdowns
BOIL vs. CVNA - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, roughly equal to the maximum CVNA drawdown of -98.99%. Use the drawdown chart below to compare losses from any high point for BOIL and CVNA.
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Drawdown Indicators
| BOIL | CVNA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -98.99% | -1.01% |
Max Drawdown (1Y)Largest decline over 1 year | -77.43% | -41.21% | -36.22% |
Max Drawdown (3Y)Largest decline over 3 years | -96.86% | -53.47% | -43.39% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -98.99% | -0.92% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -30.82% | -69.18% |
Average DrawdownAverage peak-to-trough decline | -93.59% | -38.21% | -55.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.14% | 19.53% | +36.61% |
Volatility
BOIL vs. CVNA - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 22.76% compared to Carvana Co. (CVNA) at 20.84%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than CVNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOIL | CVNA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.76% | 20.84% | +1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 104.19% | 44.10% | +60.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.02% | 60.88% | +52.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.93% | 111.41% | +7.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.81% | 99.27% | +2.54% |
Dividends
BOIL vs. CVNA - Dividend Comparison
Neither BOIL nor CVNA has paid dividends to shareholders.
Frequently Asked Questions
BOIL and CVNA 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.
BOIL has higher volatility (22.76%) compared to CVNA (20.84%). In terms of maximum drawdown, BOIL dropped -100.00% vs CVNA's -98.99%.
CVNA currently has the higher Sharpe Ratio (0.08 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.
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