BTG-USD vs. BTG

Last updated Jun 5, 2026

BTG-USD (Bitcoin Gold) is a cryptocurrency, while BTG (B2Gold Corp.) is a stock. Over the past 5 years, BTG-USD returned -64.31%/yr vs 2.28%/yr for BTG. At a 0.06 correlation, their price movements are largely independent.

Performance

BTG-USD vs. BTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitcoin Gold (BTG-USD) and B2Gold Corp. (BTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTG-USD achieves a -55.39% return, which is significantly lower than BTG's 1.94% return.

BTG-USD

• 1D: -0.44%
• 1M: -47.08%
• YTD: -55.39%
• 6M: 0.77%
• 1Y: -55.19%
• 3Y*: -70.52%
• 5Y*: -64.31%
• 10Y*: —

BTG

• 1D: 0.66%
• 1M: 8.02%
• YTD: 1.94%
• 6M: 0.83%
• 1Y: 27.13%
• 3Y*: 10.60%
• 5Y*: 2.28%
• 10Y*: 11.30%

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

BTG-USD vs. BTG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTG-USD Bitcoin Gold	-55.39%	-92.37%	-56.73%	85.84%	-70.99%	382.62%	56.48%	-57.33%	-94.85%	30.01%
BTG B2Gold Corp.	1.94%	88.95%	-18.07%	-7.22%	-5.13%	-26.97%	42.35%	37.72%	-5.81%	22.53%

Correlation

The correlation between BTG-USD and BTG is -0.08, 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	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since Oct 24, 2017	0.06

The correlation between BTG-USD and BTG shifts across timeframes, from -0.08 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BTG-USD vs. BTG — Risk / Return Rank

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

BTG-USD

BTG-USD Risk / Return Rank: 85
BTG-USD Sharpe Ratio Rank: 84
BTG-USD Sortino Ratio Rank: 99
BTG-USD Omega Ratio Rank: 99
BTG-USD Calmar Ratio Rank: 69
BTG-USD Martin Ratio Rank: 73

BTG

BTG Risk / Return Rank: 57
BTG Sharpe Ratio Rank: 59
BTG Sortino Ratio Rank: 55
BTG Omega Ratio Rank: 54
BTG Calmar Ratio Rank: 58
BTG Martin Ratio Rank: 57

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.

BTG-USD vs. BTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitcoin Gold (BTG-USD) and B2Gold Corp. (BTG). 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.

	BTG-USD	BTG	Difference
Sharpe ratio: Return per unit of total volatility	-0.06	0.50	-0.56
Sortino ratio: Return per unit of downside risk	8.08	1.01	+7.07
Omega ratio: Gain probability vs. loss probability	1.87	1.13	+0.74
Calmar ratio: Return relative to maximum drawdown	-0.59	0.74	-1.33
Martin ratio: Return relative to average drawdown	-0.76	1.51	-2.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTG-USD vs. BTG - Sharpe Ratio Comparison

The current BTG-USD Sharpe Ratio is -0.06, which is lower than the BTG Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of BTG-USD and BTG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTG-USD	BTG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.06	0.50	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	0.05	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.14	0.14	-0.28

Drawdowns

BTG-USD vs. BTG - Drawdown Comparison

The maximum BTG-USD drawdown since its inception was -99.96%, which is greater than BTG's maximum drawdown of -85.97%. Use the drawdown chart below to compare losses from any high point for BTG-USD and BTG.

Drawdown Indicators

	BTG-USD	BTG	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-85.97%	-13.99%
Max Drawdown (1Y) Largest decline over 1 year	-93.80%	-36.63%	-57.17%
Max Drawdown (3Y) Largest decline over 3 years	-99.67%	-36.86%	-62.81%
Max Drawdown (5Y) Largest decline over 5 years	-99.77%	-48.92%	-50.85%
Max Drawdown (10Y) Largest decline over 10 years	—	-63.35%	—
Current Drawdown Current decline from peak	-99.93%	-25.96%	-73.97%
Average Drawdown Average peak-to-trough decline	-93.34%	-38.36%	-54.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	64.43%	17.96%	+46.47%

Volatility

BTG-USD vs. BTG - Volatility Comparison

Bitcoin Gold (BTG-USD) has a higher volatility of 111.70% compared to B2Gold Corp. (BTG) at 17.79%. This indicates that BTG-USD's price experiences larger fluctuations and is considered to be riskier than BTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTG-USD	BTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	111.70%	17.79%	+93.91%
Volatility (6M) Calculated over the trailing 6-month period	593.25%	43.11%	+550.14%
Volatility (1Y) Calculated over the trailing 1-year period	792.01%	54.41%	+737.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	376.26%	44.56%	+331.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	299.95%	48.18%	+251.77%

Frequently Asked Questions

Can I hold both BTG-USD and BTG in my portfolio?

BTG-USD and BTG have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTG-USD or BTG?

BTG-USD has higher volatility (111.70%) compared to BTG (17.79%). In terms of maximum drawdown, BTG-USD dropped -99.96% vs BTG's -85.97%.

Which has better risk-adjusted returns?

BTG currently has the higher Sharpe Ratio (0.50 vs -0.06), 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.