BTG vs. LAC

Last updated Jun 13, 2026

BTG (B2Gold Corp.) and LAC (Lithium Americas Corp.) are both stocks. Both are in the Basic Materials sector — BTG in Gold, LAC in Other Industrial Metals & Mining. Over the past year, BTG returned 15.53% vs 73.00% for LAC. At a 0.27 correlation, their price movements are largely independent.

Performance

BTG vs. LAC - Performance Comparison

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

Returns By Period

In the year-to-date period, BTG achieves a -5.82% return, which is significantly lower than LAC's 4.36% return.

BTG

• 1D: 2.93%
• 1M: -21.06%
• YTD: -5.82%
• 6M: -7.67%
• 1Y: 15.53%
• 3Y*: 8.86%
• 5Y*: 1.08%
• 10Y*: 9.37%

LAC

• 1D: 3.17%
• 1M: -16.97%
• YTD: 4.36%
• 6M: -11.13%
• 1Y: 73.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTG vs. LAC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BTG B2Gold Corp.	-5.82%	88.95%	-18.07%	10.65%
LAC Lithium Americas Corp.	4.36%	46.80%	-53.59%	-27.19%

Correlation

The correlation between BTG and LAC is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.27

Fundamentals

Market Cap BTG : $6.32B LAC : $1.61B
EPS BTG : $0.36 LAC : -$0.28
PB Ratio BTG : 1.72 LAC : 1.19
Total Revenue (TTM) BTG : $3.67B LAC : $0.00
Gross Profit (TTM) BTG : $1.89B LAC : -$580.22K
EBITDA (TTM) BTG : $1.96B LAC : -$52.10M

Return for Risk

BTG vs. LAC — Risk / Return Rank

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

BTG

BTG Risk / Return Rank: 52
BTG Sharpe Ratio Rank: 53
BTG Sortino Ratio Rank: 50
BTG Omega Ratio Rank: 50
BTG Calmar Ratio Rank: 53
BTG Martin Ratio Rank: 52

LAC

LAC Risk / Return Rank: 69
LAC Sharpe Ratio Rank: 62
LAC Sortino Ratio Rank: 80
LAC Omega Ratio Rank: 76
LAC Calmar Ratio Rank: 66
LAC Martin Ratio Rank: 61

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. LAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for B2Gold Corp. (BTG) and Lithium Americas Corp. (LAC). 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	LAC	Difference
Sharpe ratio: Return per unit of total volatility	0.28	0.56	-0.27
Sortino ratio: Return per unit of downside risk	0.75	2.21	-1.46
Omega ratio: Gain probability vs. loss probability	1.10	1.25	-0.15
Calmar ratio: Return relative to maximum drawdown	0.42	1.16	-0.74
Martin ratio: Return relative to average drawdown	0.83	1.77	-0.93

BTG vs. LAC - Sharpe Ratio Comparison

The current BTG Sharpe Ratio is 0.28, which is lower than the LAC Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of BTG and LAC, 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

BTG vs. LAC - Drawdown Comparison

The maximum BTG drawdown since its inception was -85.97%, which is greater than LAC's maximum drawdown of -81.83%. Use the drawdown chart below to compare losses from any high point for BTG and LAC.

Drawdown Indicators

	BTG	LAC	Difference
Max Drawdown Largest peak-to-trough decline	-85.97%	-81.83%	-4.14%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-63.08%	+26.11%
Max Drawdown (3Y) Largest decline over 3 years	-36.97%	—	—
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	-31.60%	-61.18%	+29.58%
Average Drawdown Average peak-to-trough decline	-38.35%	-63.13%	+24.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.70%	41.47%	-22.77%

Volatility

BTG vs. LAC - Volatility Comparison

The current volatility for B2Gold Corp. (BTG) is 15.76%, while Lithium Americas Corp. (LAC) has a volatility of 22.78%. This indicates that BTG experiences smaller price fluctuations and is considered to be less risky than LAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTG	LAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.76%	22.78%	-7.02%
Volatility (6M) Calculated over the trailing 6-month period	44.50%	53.55%	-9.05%
Volatility (1Y) Calculated over the trailing 1-year period	55.48%	132.17%	-76.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.82%	101.55%	-56.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.23%	101.55%	-53.32%

Dividends

BTG vs. LAC - Dividend Comparison

BTG's dividend yield for the trailing twelve months is around 1.90%, while LAC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BTG B2Gold Corp.	1.90%	1.77%	6.56%	5.06%	4.48%	4.07%	1.96%	0.25%
LAC Lithium Americas Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both BTG and LAC in my portfolio?

BTG and LAC have a correlation of 0.31, 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 LAC?

LAC has higher volatility (22.78%) compared to BTG (15.76%). In terms of maximum drawdown, BTG dropped -85.97% vs LAC's -81.83%.

Which has better risk-adjusted returns?

LAC currently has the higher Sharpe Ratio (0.56 vs 0.28), 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.