BTC-USD vs. SHOP
BTC-USD (Bitcoin) is a cryptocurrency, while SHOP (Shopify Inc.) is a stock. Over the past 10 years, BTC-USD returned 59.68%/yr vs 44.31%/yr for SHOP. At a 0.15 correlation, their price movements are largely independent.
Performance
BTC-USD vs. SHOP - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -28.54% return, which is significantly higher than SHOP's -31.18% return. Over the past 10 years, BTC-USD has outperformed SHOP with an annualized return of 59.68%, while SHOP has yielded a comparatively lower 44.31% annualized return.
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
SHOP
- 1D
- 1.13%
- 1M
- 0.34%
- YTD
- -31.18%
- 6M
- -30.07%
- 1Y
- -0.57%
- 3Y*
- 21.77%
- 5Y*
- -1.84%
- 10Y*
- 44.31%
BTC-USD vs. SHOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
SHOP Shopify Inc. | -31.18% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
Correlation
The correlation between BTC-USD and SHOP is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 22, 2015 | 0.15 |
The correlation between BTC-USD and SHOP shifts across timeframes, from 0.15 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTC-USD vs. SHOP — Risk / Return Rank
BTC-USD
SHOP
BTC-USD vs. SHOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and Shopify Inc. (SHOP). 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.
| BTC-USD | SHOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.05 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | -0.01 | -0.79 |
| Martin ratioReturn relative to average drawdown | -1.42 | -0.03 | -1.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTC-USD | SHOP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.95 | -0.01 | -0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | -0.03 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.75 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.69 | +0.44 |
Drawdowns
BTC-USD vs. SHOP - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, roughly equal to the maximum SHOP drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for BTC-USD and SHOP.
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Drawdown Indicators
| BTC-USD | SHOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -84.82% | -0.48% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -46.71% | -4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -46.71% | -4.50% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -84.82% | +8.15% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -84.82% | +1.02% |
Current DrawdownCurrent decline from peak | -49.86% | -38.12% | -11.74% |
Average DrawdownAverage peak-to-trough decline | -42.32% | -28.22% | -14.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.46% | 21.74% | +12.72% |
Volatility
BTC-USD vs. SHOP - Volatility Comparison
The current volatility for Bitcoin (BTC-USD) is 11.59%, while Shopify Inc. (SHOP) has a volatility of 17.86%. This indicates that BTC-USD experiences smaller price fluctuations and is considered to be less risky than SHOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTC-USD | SHOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.59% | 17.86% | -6.27% |
Volatility (6M)Calculated over the trailing 6-month period | 34.53% | 43.67% | -9.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.67% | 57.27% | -21.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.95% | 65.57% | -20.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.71% | 59.09% | -2.38% |
Frequently Asked Questions
BTC-USD and SHOP have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHOP has higher volatility (17.86%) compared to BTC-USD (11.59%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs SHOP's -84.82%.
SHOP currently has the higher Sharpe Ratio (-0.01 vs -0.95), 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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