BTDR vs. RIOT

Last updated Jun 17, 2026

BTDR (Bitdeer Technologies Group Class A Ordinary Shares) and RIOT (Riot Platforms, Inc.) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 3 years, BTDR returned 16.95%/yr vs 38.15%/yr for RIOT. A 0.58 correlation means they provide meaningful diversification when combined.

Performance

BTDR vs. RIOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and Riot Platforms, Inc. (RIOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTDR achieves a 62.80% return, which is significantly lower than RIOT's 116.42% return.

BTDR

• 1D: -0.38%
• 1M: 36.70%
• YTD: 62.80%
• 6M: 82.32%
• 1Y: 34.59%
• 3Y*: 16.95%
• 5Y*: —
• 10Y*: —

RIOT

• 1D: 0.15%
• 1M: 16.73%
• YTD: 116.42%
• 6M: 103.56%
• 1Y: 169.62%
• 3Y*: 38.15%
• 5Y*: -4.38%
• 10Y*: 24.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTDR vs. RIOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BTDR Bitdeer Technologies Group Class A Ordinary Shares	62.80%	-48.27%	119.78%	20.10%
RIOT Riot Platforms, Inc.	116.42%	24.09%	-34.00%	25.26%

Correlation

The correlation between BTDR and RIOT is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Apr 13, 2023	0.58

The correlation between BTDR and RIOT has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

Fundamentals

Market Cap BTDR : $4.26B RIOT : $9.53B
EPS BTDR : -$2.23 RIOT : -$2.35
PS Ratio BTDR : 5.58 RIOT : 15.47
PB Ratio BTDR : 5.83 RIOT : 3.98
Total Revenue (TTM) BTDR : $739.06M RIOT : $653.27M
Gross Profit (TTM) BTDR : $25.18M RIOT : $179.76M
EBITDA (TTM) BTDR : $59.65M RIOT : -$482.33M

Return for Risk

BTDR vs. RIOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTDR

BTDR Risk / Return Rank: 55
BTDR Sharpe Ratio Rank: 54
BTDR Sortino Ratio Rank: 60
BTDR Omega Ratio Rank: 57
BTDR Calmar Ratio Rank: 53
BTDR Martin Ratio Rank: 50

RIOT

RIOT Risk / Return Rank: 84
RIOT Sharpe Ratio Rank: 89
RIOT Sortino Ratio Rank: 83
RIOT Omega Ratio Rank: 81
RIOT Calmar Ratio Rank: 86
RIOT Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTDR vs. RIOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and Riot Platforms, Inc. (RIOT). 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.

	BTDR	RIOT	Difference
Sharpe ratio: Return per unit of total volatility	0.35	2.03	-1.69
Sortino ratio: Return per unit of downside risk	1.21	2.51	-1.30
Omega ratio: Gain probability vs. loss probability	1.14	1.31	-0.16
Calmar ratio: Return relative to maximum drawdown	0.48	3.51	-3.03
Martin ratio: Return relative to average drawdown	0.81	6.95	-6.14

BTDR vs. RIOT - Sharpe Ratio Comparison

The current BTDR Sharpe Ratio is 0.35, which is lower than the RIOT Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of BTDR and RIOT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BTDR vs. RIOT - Drawdown Comparison

The maximum BTDR drawdown since its inception was -79.52%, smaller than the maximum RIOT drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for BTDR and RIOT.

Drawdown Indicators

	BTDR	RIOT	Difference
Max Drawdown Largest peak-to-trough decline	-79.52%	-99.98%	+20.46%
Max Drawdown (1Y) Largest decline over 1 year	-71.89%	-48.57%	-23.32%
Max Drawdown (3Y) Largest decline over 3 years	-79.52%	-69.00%	-10.52%
Max Drawdown (5Y) Largest decline over 5 years	—	-92.55%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.32%	—
Current Drawdown Current decline from peak	-30.08%	-99.14%	+69.06%
Average Drawdown Average peak-to-trough decline	-43.58%	-87.84%	+44.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.94%	24.50%	+18.44%

Volatility

BTDR vs. RIOT - Volatility Comparison

Bitdeer Technologies Group Class A Ordinary Shares (BTDR) has a higher volatility of 29.93% compared to Riot Platforms, Inc. (RIOT) at 19.41%. This indicates that BTDR's price experiences larger fluctuations and is considered to be riskier than RIOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTDR	RIOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.93%	19.41%	+10.52%
Volatility (6M) Calculated over the trailing 6-month period	68.65%	62.12%	+6.53%
Volatility (1Y) Calculated over the trailing 1-year period	100.77%	84.02%	+16.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	123.16%	93.65%	+29.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	123.16%	112.16%	+11.00%

Dividends

BTDR vs. RIOT - Dividend Comparison

Neither BTDR nor RIOT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTDR Bitdeer Technologies Group Class A Ordinary Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RIOT Riot Platforms, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.52%

Financials

Frequently Asked Questions

Can I hold both BTDR and RIOT in my portfolio?

BTDR and RIOT have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTDR or RIOT?

BTDR has higher volatility (29.93%) compared to RIOT (19.41%). In terms of maximum drawdown, BTDR dropped -79.52% vs RIOT's -99.98%.

Which has better risk-adjusted returns?

RIOT currently has the higher Sharpe Ratio (2.03 vs 0.35), 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.