BTCO vs. SHOP
BTCO (Invesco Galaxy Bitcoin ETF) is Cryptocurrency fund tracking the Lukka Prime Reference Bitcoin Rate, while SHOP (Shopify Inc.) is a stock. Over the past year, BTCO returned -44.68% vs -2.04% for SHOP. At a 0.32 correlation, their price movements are largely independent.
Performance
BTCO vs. SHOP - Performance Comparison
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Returns By Period
In the year-to-date period, BTCO achieves a -25.69% return, which is significantly lower than SHOP's -22.67% return.
BTCO
- 1D
- 1.54%
- 1M
- 3.42%
- 6M
- -31.95%
- YTD
- -25.69%
- 1Y
- -44.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.50%
SHOP
- 1D
- 0.74%
- 1M
- 14.36%
- 6M
- -20.11%
- YTD
- -22.67%
- 1Y
- -2.04%
- 3Y*
- 23.82%
- 5Y*
- -4.53%
- 10Y*
- 43.82%
- ALL TIME*
- 40.48%
BTCO vs. SHOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCO Invesco Galaxy Bitcoin ETF | -25.69% | -6.58% | 93.87% |
SHOP Shopify Inc. | -22.67% | 51.39% | 31.11% |
Correlation
The correlation between BTCO and SHOP is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.32 |
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Return for Risk
BTCO vs. SHOP — Risk / Return Rank
BTCO
SHOP
BTCO vs. SHOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Bitcoin ETF (BTCO) 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.
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 | SHOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.04 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.04 | -0.80 |
| Martin ratioReturn relative to average drawdown | -1.34 | -0.08 | -1.26 |
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Drawdowns
BTCO vs. SHOP - Drawdown Comparison
The maximum BTCO drawdown since its inception was -53.33%, smaller than the maximum SHOP drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for BTCO and SHOP.
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Drawdown Indicators
| BTCO | SHOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.33% | -84.82% | +31.49% |
Max Drawdown (1Y)Largest decline over 1 year | -53.33% | -46.71% | -6.62% |
Max Drawdown (3Y)Largest decline over 3 years | — | -46.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.82% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -84.82% | — |
Current DrawdownCurrent decline from peak | -48.23% | -30.46% | -17.77% |
Average DrawdownAverage peak-to-trough decline | -17.70% | -28.28% | +10.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.39% | 24.67% | +8.72% |
Volatility
BTCO vs. SHOP - Volatility Comparison
The current volatility for Invesco Galaxy Bitcoin ETF (BTCO) is 10.57%, while Shopify Inc. (SHOP) has a volatility of 11.63%. This indicates that BTCO 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
| BTCO | SHOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.57% | 11.63% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 34.51% | 44.06% | -9.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.25% | 57.17% | -12.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.38% | 65.63% | -16.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.38% | 59.05% | -9.67% |
Dividends
BTCO vs. SHOP - Dividend Comparison
Neither BTCO nor SHOP has paid dividends to shareholders.
Frequently Asked Questions
BTCO and SHOP have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHOP has higher volatility (11.63%) compared to BTCO (10.57%). In terms of maximum drawdown, BTCO dropped -53.33% vs SHOP's -84.82%.
SHOP currently has the higher Sharpe Ratio (-0.04 vs -1.01), 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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