BTG-USD vs. CMCL
BTG-USD (Bitcoin Gold) is a cryptocurrency, while CMCL (Caledonia Mining Corporation Plc) is a stock. Over the past 5 years, BTG-USD returned -63.09%/yr vs 11.15%/yr for CMCL. At a 0.04 correlation, their price movements are largely independent.
Performance
BTG-USD vs. CMCL - Performance Comparison
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Returns By Period
In the year-to-date period, BTG-USD achieves a -59.04% return, which is significantly lower than CMCL's -32.98% return.
BTG-USD
- 1D
- 11.37%
- 1M
- 59.65%
- 6M
- -53.20%
- YTD
- -59.04%
- 1Y
- -55.95%
- 3Y*
- -72.38%
- 5Y*
- -63.09%
- 10Y*
- —
CMCL
- 1D
- -2.42%
- 1M
- -14.12%
- 6M
- -46.25%
- YTD
- -32.98%
- 1Y
- -15.01%
- 3Y*
- 15.95%
- 5Y*
- 11.15%
- 10Y*
- —
BTG-USD vs. CMCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTG-USD Bitcoin Gold | -59.04% | -92.37% | -56.73% | 85.84% | -70.99% | 382.62% | 56.48% | -57.33% | -94.85% | 55.62% |
CMCL Caledonia Mining Corporation Plc | -32.98% | 186.75% | -18.90% | 2.65% | 11.39% | -23.84% | 93.29% | 67.37% | -26.33% | 31.96% |
Correlation
The correlation between BTG-USD and CMCL is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2017 | 0.04 |
The correlation between BTG-USD and CMCL shifts across timeframes, from -0.07 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BTG-USD vs. CMCL — Risk / Return Rank
BTG-USD
CMCL
BTG-USD vs. CMCL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin Gold (BTG-USD) and Caledonia Mining Corporation Plc (CMCL). 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.
| BTG-USD | CMCL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +6.61 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.01 | +0.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | -0.28 | -0.32 |
| Martin ratioReturn relative to average drawdown | -0.89 | -0.53 | -0.36 |
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Drawdowns
BTG-USD vs. CMCL - Drawdown Comparison
The maximum BTG-USD drawdown since its inception was -99.96%, which is greater than CMCL's maximum drawdown of -65.77%. Use the drawdown chart below to compare losses from any high point for BTG-USD and CMCL.
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Drawdown Indicators
| BTG-USD | CMCL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -65.77% | -34.19% |
Max Drawdown (1Y)Largest decline over 1 year | -93.25% | -53.26% | -39.99% |
Max Drawdown (3Y)Largest decline over 3 years | -99.71% | -53.26% | -46.45% |
Max Drawdown (5Y)Largest decline over 5 years | -99.79% | -53.26% | -46.53% |
Current DrawdownCurrent decline from peak | -99.94% | -53.26% | -46.68% |
Average DrawdownAverage peak-to-trough decline | -93.38% | -35.88% | -57.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.92% | 28.25% | +38.67% |
Volatility
BTG-USD vs. CMCL - Volatility Comparison
Bitcoin Gold (BTG-USD) has a higher volatility of 129.59% compared to Caledonia Mining Corporation Plc (CMCL) at 14.68%. This indicates that BTG-USD's price experiences larger fluctuations and is considered to be riskier than CMCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTG-USD | CMCL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 129.59% | 14.68% | +114.91% |
Volatility (6M)Calculated over the trailing 6-month period | 587.00% | 45.66% | +541.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 683.95% | 65.01% | +618.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 379.90% | 52.76% | +327.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 301.18% | 54.52% | +246.66% |
Frequently Asked Questions
BTG-USD and CMCL have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTG-USD has higher volatility (129.59%) compared to CMCL (14.68%). In terms of maximum drawdown, BTG-USD dropped -99.96% vs CMCL's -65.77%.
BTG-USD currently has the higher Sharpe Ratio (-0.07 vs -0.23), 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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