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 -49.25% vs -46.09% 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 -10.58% return, which is significantly higher than IBIT's -27.03% return.
BTBT
- 1D
- 0.60%
- 1M
- -2.87%
- 6M
- -22.83%
- YTD
- -10.58%
- 1Y
- -49.25%
- 3Y*
- -25.64%
- 5Y*
- -21.39%
- 10Y*
- —
IBIT
- 1D
- 1.17%
- 1M
- 0.53%
- 6M
- -29.18%
- YTD
- -27.03%
- 1Y
- -46.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTBT vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTBT Bit Digital, Inc. | -10.58% | -35.49% | -15.32% |
IBIT iShares Bitcoin Trust ETF | -27.03% | -6.41% | 89.87% |
Correlation
The correlation between BTBT and IBIT is 0.63, 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 | 0.63 |
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 0.63 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 | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.84 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | -0.82 | +0.09 |
| Martin ratioReturn relative to average drawdown | -1.09 | -1.35 | +0.25 |
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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 -53.30%. 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% | -53.30% | -44.86% |
Max Drawdown (1Y)Largest decline over 1 year | -70.02% | -53.30% | -16.72% |
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 | -94.23% | -49.18% | -45.05% |
Average DrawdownAverage peak-to-trough decline | -75.77% | -17.51% | -58.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.98% | 32.56% | +14.42% |
Volatility
BTBT vs. IBIT - Volatility Comparison
Bit Digital, Inc. (BTBT) has a higher volatility of 23.40% compared to iShares Bitcoin Trust ETF (IBIT) at 11.12%. 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 | 23.40% | 11.12% | +12.28% |
Volatility (6M)Calculated over the trailing 6-month period | 61.83% | 34.70% | +27.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.40% | 44.47% | +43.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 117.51% | 49.98% | +67.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 133.46% | 49.98% | +83.48% |
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 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTBT has higher volatility (23.40%) compared to IBIT (11.12%). In terms of maximum drawdown, BTBT dropped -98.16% vs IBIT's -53.30%.
BTBT currently has the higher Sharpe Ratio (-0.58 vs -0.99), 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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