BTBT vs. IBIT
BTBT (Bit Digital, Inc.) is a stock, while IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Over the past year, BTBT returned -4.29% vs -37.79% for IBIT. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
BTBT vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, BTBT achieves a 17.99% return, which is significantly higher than IBIT's -26.49% return.
BTBT
- 1D
- 2.76%
- 1M
- 12.06%
- YTD
- 17.99%
- 6M
- 0.90%
- 1Y
- -4.29%
- 3Y*
- -19.97%
- 5Y*
- -20.17%
- 10Y*
- —
IBIT
- 1D
- 2.47%
- 1M
- -15.04%
- YTD
- -26.49%
- 6M
- -27.13%
- 1Y
- -37.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTBT vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTBT Bit Digital, Inc. | 17.99% | -35.49% | -15.32% |
IBIT iShares Bitcoin Trust ETF | -26.49% | -6.41% | 89.87% |
Correlation
The correlation between BTBT and IBIT is 0.61, 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 | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.63 |
The correlation between BTBT and IBIT has been stable across timeframes, ranging from 0.61 to 0.63 - a consistent structural relationship.
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Return for Risk
BTBT vs. IBIT — Risk / Return Rank
BTBT
IBIT
BTBT vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bit Digital, Inc. (BTBT) and iShares Bitcoin Trust ETF (IBIT). 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.
| BTBT | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.87 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | -0.73 | +0.67 |
| Martin ratioReturn relative to average drawdown | -0.10 | -1.24 | +1.15 |
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Drawdowns
BTBT vs. IBIT - Drawdown Comparison
The maximum BTBT drawdown since its inception was -98.16%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for BTBT and IBIT.
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Drawdown Indicators
| BTBT | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -52.11% | -46.05% |
Max Drawdown (1Y)Largest decline over 1 year | -70.02% | -52.11% | -17.91% |
Max Drawdown (3Y)Largest decline over 3 years | -77.08% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -96.92% | — | — |
Current DrawdownCurrent decline from peak | -92.38% | -48.80% | -43.58% |
Average DrawdownAverage peak-to-trough decline | -75.66% | -16.79% | -58.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.19% | 30.41% | +14.78% |
Volatility
BTBT vs. IBIT - Volatility Comparison
Bit Digital, Inc. (BTBT) has a higher volatility of 25.18% compared to iShares Bitcoin Trust ETF (IBIT) at 13.00%. This indicates that BTBT's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTBT | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.18% | 13.00% | +12.18% |
Volatility (6M)Calculated over the trailing 6-month period | 61.64% | 34.53% | +27.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 93.18% | 44.29% | +48.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 117.52% | 50.21% | +67.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 133.74% | 50.21% | +83.53% |
Dividends
BTBT vs. IBIT - Dividend Comparison
Neither BTBT nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
BTBT and IBIT have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTBT has higher volatility (25.18%) compared to IBIT (13.00%). In terms of maximum drawdown, BTBT dropped -98.16% vs IBIT's -52.11%.
BTBT currently has the higher Sharpe Ratio (-0.05 vs -0.86), 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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