BTG vs. BBAI

Last updated Jun 9, 2026

BTG (B2Gold Corp.) and BBAI (BigBear.ai Holdings, Inc.) are both stocks. BTG operates in Gold (Basic Materials), while BBAI operates in Information Technology Services (Technology). Over the past 3 years, BTG returned 6.93%/yr vs 28.32%/yr for BBAI. At a 0.17 correlation, their price movements are largely independent.

Performance

BTG vs. BBAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in B2Gold Corp. (BTG) and BigBear.ai Holdings, Inc. (BBAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTG achieves a -7.85% return, which is significantly higher than BBAI's -20.19% return.

BTG

• 1D: -0.96%
• 1M: -21.89%
• YTD: -7.85%
• 6M: -7.23%
• 1Y: 14.91%
• 3Y*: 6.93%
• 5Y*: 0.85%
• 10Y*: 9.81%

BBAI

• 1D: 2.62%
• 1M: 3.11%
• YTD: -20.19%
• 6M: -34.30%
• 1Y: 11.95%
• 3Y*: 28.32%
• 5Y*: —
• 10Y*: —

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

BTG vs. BBAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BTG B2Gold Corp.	-7.85%	88.95%	-18.07%	-7.22%	-5.13%	3.42%
BBAI BigBear.ai Holdings, Inc.	-20.19%	21.35%	107.94%	217.65%	-88.10%	-27.90%

Correlation

The correlation between BTG and BBAI is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.17

Fundamentals

Market Cap BTG : $6.22B BBAI : $20.39B
EPS BTG : $0.36 BBAI : -$0.13
PS Ratio BTG : 1.71 BBAI : 76.89
PB Ratio BTG : 1.69 BBAI : 25.80
Total Revenue (TTM) BTG : $3.67B BBAI : $127.35M
Gross Profit (TTM) BTG : $1.89B BBAI : $32.81M
EBITDA (TTM) BTG : $1.96B BBAI : -$230.18M

Return for Risk

BTG vs. BBAI — Risk / Return Rank

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

BTG

BTG Risk / Return Rank: 51
BTG Sharpe Ratio Rank: 52
BTG Sortino Ratio Rank: 50
BTG Omega Ratio Rank: 49
BTG Calmar Ratio Rank: 52
BTG Martin Ratio Rank: 51

BBAI

BBAI Risk / Return Rank: 49
BBAI Sharpe Ratio Rank: 46
BBAI Sortino Ratio Rank: 55
BBAI Omega Ratio Rank: 51
BBAI Calmar Ratio Rank: 47
BBAI Martin Ratio Rank: 46

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 vs. BBAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for B2Gold Corp. (BTG) and BigBear.ai Holdings, Inc. (BBAI). 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	BBAI	Difference
Sharpe ratio: Return per unit of total volatility	0.27	0.12	+0.15
Sortino ratio: Return per unit of downside risk	0.74	1.00	-0.27
Omega ratio: Gain probability vs. loss probability	1.09	1.10	-0.01
Calmar ratio: Return relative to maximum drawdown	0.41	0.18	+0.23
Martin ratio: Return relative to average drawdown	0.82	0.31	+0.51
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 vs. BBAI - Sharpe Ratio Comparison

The current BTG Sharpe Ratio is 0.27, which is higher than the BBAI Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of BTG and BBAI, 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	BBAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.27	0.12	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	-0.08	+0.21

Drawdowns

BTG vs. BBAI - Drawdown Comparison

The maximum BTG drawdown since its inception was -85.97%, smaller than the maximum BBAI drawdown of -95.01%. Use the drawdown chart below to compare losses from any high point for BTG and BBAI.

Drawdown Indicators

	BTG	BBAI	Difference
Max Drawdown Largest peak-to-trough decline	-85.97%	-95.01%	+9.04%
Max Drawdown (1Y) Largest decline over 1 year	-36.63%	-65.88%	+29.25%
Max Drawdown (3Y) Largest decline over 3 years	-36.72%	-75.56%	+38.84%
Max Drawdown (5Y) Largest decline over 5 years	-48.92%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-63.35%	—	—
Current Drawdown Current decline from peak	-33.08%	-66.04%	+32.96%
Average Drawdown Average peak-to-trough decline	-38.36%	-70.87%	+32.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.20%	38.69%	-20.49%

Volatility

BTG vs. BBAI - Volatility Comparison

The current volatility for B2Gold Corp. (BTG) is 15.99%, while BigBear.ai Holdings, Inc. (BBAI) has a volatility of 24.69%. This indicates that BTG experiences smaller price fluctuations and is considered to be less risky than BBAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTG	BBAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.99%	24.69%	-8.70%
Volatility (6M) Calculated over the trailing 6-month period	44.03%	56.30%	-12.27%
Volatility (1Y) Calculated over the trailing 1-year period	55.17%	97.07%	-41.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.73%	174.91%	-130.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.23%	174.91%	-126.68%

Dividends

BTG vs. BBAI - Dividend Comparison

BTG's dividend yield for the trailing twelve months is around 1.93%, while BBAI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBAI BigBear.ai Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BTG B2Gold Corp.	1.93%	1.77%	6.56%	5.06%	4.48%	4.07%	1.96%	0.25%

Financials

Frequently Asked Questions

Can I hold both BTG and BBAI in my portfolio?

BTG and BBAI have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTG or BBAI?

BBAI has higher volatility (24.69%) compared to BTG (15.99%). In terms of maximum drawdown, BTG dropped -85.97% vs BBAI's -95.01%.

Which has better risk-adjusted returns?

BTG currently has the higher Sharpe Ratio (0.27 vs 0.12), 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.