BTCO vs. COIN
BTCO (Invesco Galaxy Bitcoin ETF) is Cryptocurrency fund tracking the Lukka Prime Reference Bitcoin Rate, while COIN (Coinbase Global, Inc.) is a stock. Over the past year, BTCO returned -39.77% vs -35.89% for COIN. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
BTCO vs. COIN - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BTCO having a -27.49% return and COIN slightly higher at -27.42%.
BTCO
- 1D
- -2.80%
- 1M
- -22.21%
- YTD
- -27.49%
- 6M
- -31.46%
- 1Y
- -39.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COIN
- 1D
- 0.56%
- 1M
- -17.00%
- YTD
- -27.42%
- 6M
- -40.11%
- 1Y
- -35.89%
- 3Y*
- 40.88%
- 5Y*
- -6.43%
- 10Y*
- —
BTCO vs. COIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCO Invesco Galaxy Bitcoin ETF | -27.49% | -6.58% | 100.54% |
COIN Coinbase Global, Inc. | -27.42% | -8.92% | 75.90% |
Correlation
The correlation between BTCO and COIN is 0.74, 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 | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.72 |
The correlation between BTCO and COIN has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.
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Return for Risk
BTCO vs. COIN — Risk / Return Rank
BTCO
COIN
BTCO vs. COIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Bitcoin ETF (BTCO) and Coinbase Global, Inc. (COIN). 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.
| BTCO | COIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.95 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.54 | -0.26 |
| Martin ratioReturn relative to average drawdown | -1.39 | -0.90 | -0.49 |
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
| BTCO | COIN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.92 | -0.51 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | -0.15 | +0.42 |
Drawdowns
BTCO vs. COIN - Drawdown Comparison
The maximum BTCO drawdown since its inception was -49.49%, smaller than the maximum COIN drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for BTCO and COIN.
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Drawdown Indicators
| BTCO | COIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.49% | -90.90% | +41.41% |
Max Drawdown (1Y)Largest decline over 1 year | -49.49% | -66.39% | +16.90% |
Max Drawdown (3Y)Largest decline over 3 years | — | -66.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.90% | — |
Current DrawdownCurrent decline from peak | -49.49% | -60.90% | +11.41% |
Average DrawdownAverage peak-to-trough decline | -16.01% | -49.84% | +33.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.58% | 39.86% | -11.28% |
Volatility
BTCO vs. COIN - Volatility Comparison
The current volatility for Invesco Galaxy Bitcoin ETF (BTCO) is 9.13%, while Coinbase Global, Inc. (COIN) has a volatility of 19.12%. This indicates that BTCO experiences smaller price fluctuations and is considered to be less risky than COIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCO | COIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.13% | 19.12% | -9.99% |
Volatility (6M)Calculated over the trailing 6-month period | 33.84% | 50.97% | -17.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.60% | 70.03% | -26.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.76% | 85.85% | -36.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.76% | 85.36% | -35.60% |
Dividends
BTCO vs. COIN - Dividend Comparison
Neither BTCO nor COIN has paid dividends to shareholders.
Frequently Asked Questions
BTCO and COIN have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COIN has higher volatility (19.12%) compared to BTCO (9.13%). In terms of maximum drawdown, BTCO dropped -49.49% vs COIN's -90.90%.
COIN currently has the higher Sharpe Ratio (-0.51 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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