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 -45.25% vs -59.90% for COIN. A 0.73 correlation means they provide meaningful diversification when combined.
Performance
BTCO vs. COIN - Performance Comparison
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Returns By Period
In the year-to-date period, BTCO achieves a -32.42% return, which is significantly higher than COIN's -36.98% return.
BTCO
- 1D
- -1.07%
- 1M
- -21.99%
- YTD
- -32.42%
- 6M
- -32.22%
- 1Y
- -45.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COIN
- 1D
- -5.06%
- 1M
- -20.83%
- YTD
- -36.98%
- 6M
- -40.55%
- 1Y
- -59.90%
- 3Y*
- 32.02%
- 5Y*
- -8.69%
- 10Y*
- —
BTCO vs. COIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCO Invesco Galaxy Bitcoin ETF | -32.42% | -6.58% | 93.87% |
COIN Coinbase Global, Inc. | -36.98% | -8.92% | 64.12% |
Correlation
The correlation between BTCO and COIN is 0.76, 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 | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.73 |
The correlation between BTCO and COIN has been stable across timeframes, ranging from 0.73 to 0.76 - 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.
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.
| BTCO | COIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.84 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.90 | +0.05 |
| Martin ratioReturn relative to average drawdown | -1.47 | -1.41 | -0.05 |
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Drawdowns
BTCO vs. COIN - Drawdown Comparison
The maximum BTCO drawdown since its inception was -52.92%, smaller than the maximum COIN drawdown of -91.46%. 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 | -52.92% | -91.46% | +38.54% |
Max Drawdown (1Y)Largest decline over 1 year | -52.92% | -66.39% | +13.47% |
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 | -52.92% | -66.05% | +13.13% |
Average DrawdownAverage peak-to-trough decline | -16.85% | -52.65% | +35.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.91% | 42.46% | -11.55% |
Volatility
BTCO vs. COIN - Volatility Comparison
The current volatility for Invesco Galaxy Bitcoin ETF (BTCO) is 13.25%, while Coinbase Global, Inc. (COIN) has a volatility of 18.98%. 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 | 13.25% | 18.98% | -5.73% |
Volatility (6M)Calculated over the trailing 6-month period | 34.52% | 52.25% | -17.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.24% | 67.62% | -23.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.74% | 86.04% | -36.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.74% | 85.36% | -35.62% |
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 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COIN has higher volatility (18.98%) compared to BTCO (13.25%). In terms of maximum drawdown, BTCO dropped -52.92% vs COIN's -91.46%.
COIN currently has the higher Sharpe Ratio (-0.89 vs -1.03), 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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