BTC-USD vs. SPOT
BTC-USD (Bitcoin) is a cryptocurrency, while SPOT (Spotify Technology S.A.) is a stock. Over the past 5 years, BTC-USD returned 9.74%/yr vs 14.62%/yr for SPOT. At a 0.15 correlation, their price movements are largely independent.
Performance
BTC-USD vs. SPOT - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -26.27% return, which is significantly lower than SPOT's -17.00% return.
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
SPOT
- 1D
- -0.82%
- 1M
- 11.86%
- YTD
- -17.00%
- 6M
- -19.37%
- 1Y
- -31.42%
- 3Y*
- 47.06%
- 5Y*
- 14.62%
- 10Y*
- —
BTC-USD vs. SPOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -47.60% |
SPOT Spotify Technology S.A. | -17.00% | 29.80% | 138.08% | 138.01% | -66.27% | -25.62% | 110.40% | 31.76% | -31.59% |
Correlation
The correlation between BTC-USD and SPOT is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018 | 0.15 |
The correlation between BTC-USD and SPOT shifts across timeframes, from 0.07 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BTC-USD vs. SPOT — Risk / Return Rank
BTC-USD
SPOT
BTC-USD vs. SPOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and Spotify Technology S.A. (SPOT). 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.
| BTC-USD | SPOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.89 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.67 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.33 | -1.16 | -0.18 |
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Drawdowns
BTC-USD vs. SPOT - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than SPOT's maximum drawdown of -80.51%. Use the drawdown chart below to compare losses from any high point for BTC-USD and SPOT.
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Drawdown Indicators
| BTC-USD | SPOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -80.51% | -4.79% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -46.80% | -4.41% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -46.80% | -4.41% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -76.39% | -0.28% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | — | — |
Current DrawdownCurrent decline from peak | -48.27% | -37.88% | -10.39% |
Average DrawdownAverage peak-to-trough decline | -42.36% | -30.87% | -11.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.16% | 27.16% | +8.00% |
Volatility
BTC-USD vs. SPOT - Volatility Comparison
The current volatility for Bitcoin (BTC-USD) is 11.97%, while Spotify Technology S.A. (SPOT) has a volatility of 16.23%. This indicates that BTC-USD experiences smaller price fluctuations and is considered to be less risky than SPOT 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 | SPOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.97% | 16.23% | -4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 34.64% | 37.28% | -2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.59% | 45.28% | -9.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.57% | 47.58% | -3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.61% | 47.36% | +9.25% |
Frequently Asked Questions
BTC-USD and SPOT have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (16.23%) compared to BTC-USD (11.97%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs SPOT's -80.51%.
SPOT currently has the higher Sharpe Ratio (-0.70 vs -0.92), 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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