BTG vs. MARA
BTG (B2Gold Corp.) and MARA (MARA Holdings, Inc.) are both stocks. BTG operates in Gold (Basic Materials), while MARA operates in Capital Markets (Financial Services). Over the past 10 years, BTG returned 9.37%/yr vs -10.09%/yr for MARA. At a 0.09 correlation, their price movements are largely independent.
Performance
BTG vs. MARA - Performance Comparison
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Returns By Period
In the year-to-date period, BTG achieves a -5.82% return, which is significantly lower than MARA's 56.79% return. Over the past 10 years, BTG has outperformed MARA with an annualized return of 9.37%, while MARA has yielded a comparatively lower -10.09% annualized 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%
MARA
- 1D
- 3.45%
- 1M
- 10.43%
- YTD
- 56.79%
- 6M
- 22.22%
- 1Y
- -11.00%
- 3Y*
- 13.30%
- 5Y*
- -11.91%
- 10Y*
- -10.09%
BTG vs. MARA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTG B2Gold Corp. | -5.82% | 88.95% | -18.07% | -7.22% | -5.13% | -26.97% | 42.35% | 37.72% | -5.81% | 30.80% |
MARA MARA Holdings, Inc. | 56.79% | -46.45% | -28.61% | 586.84% | -89.59% | 214.75% | 1,084.48% | -39.16% | -91.17% | -40.41% |
Correlation
The correlation between BTG and MARA is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since May 4, 2012 | 0.09 |
The correlation between BTG and MARA shifts across timeframes, from 0.09 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
BTG:
$6.32B
MARA:
$5.35B
BTG:
$0.36
MARA:
-$4.95
BTG:
1.74
MARA:
6.68
BTG:
$3.67B
MARA:
$867.82M
BTG:
$1.89B
MARA:
$164.95M
BTG:
$1.96B
MARA:
$373.68M
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Return for Risk
BTG vs. MARA — Risk / Return Rank
BTG
MARA
BTG vs. MARA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for B2Gold Corp. (BTG) and MARA Holdings, Inc. (MARA). 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 | MARA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.04 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | -0.16 | +0.58 |
| Martin ratioReturn relative to average drawdown | 0.83 | -0.26 | +1.09 |
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Drawdowns
BTG vs. MARA - Drawdown Comparison
The maximum BTG drawdown since its inception was -85.97%, smaller than the maximum MARA drawdown of -99.74%. Use the drawdown chart below to compare losses from any high point for BTG and MARA.
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Drawdown Indicators
| BTG | MARA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.97% | -99.74% | +13.77% |
Max Drawdown (1Y)Largest decline over 1 year | -36.97% | -70.53% | +33.56% |
Max Drawdown (3Y)Largest decline over 3 years | -36.97% | -78.34% | +41.37% |
Max Drawdown (5Y)Largest decline over 5 years | -48.92% | -95.87% | +46.95% |
Max Drawdown (10Y)Largest decline over 10 years | -63.35% | -99.20% | +35.85% |
Current DrawdownCurrent decline from peak | -31.60% | -90.90% | +59.30% |
Average DrawdownAverage peak-to-trough decline | -38.35% | -78.00% | +39.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.70% | 42.56% | -23.86% |
Volatility
BTG vs. MARA - Volatility Comparison
The current volatility for B2Gold Corp. (BTG) is 15.76%, while MARA Holdings, Inc. (MARA) has a volatility of 23.71%. This indicates that BTG experiences smaller price fluctuations and is considered to be less risky than MARA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTG | MARA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.76% | 23.71% | -7.95% |
Volatility (6M)Calculated over the trailing 6-month period | 44.50% | 60.50% | -16.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.48% | 79.29% | -23.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.82% | 105.98% | -61.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.23% | 144.15% | -95.92% |
Dividends
BTG vs. MARA - Dividend Comparison
BTG's dividend yield for the trailing twelve months is around 1.90%, while MARA 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% |
MARA MARA Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
BTG vs. MARA - Financials Comparison
This section allows you to compare key financial metrics between B2Gold Corp. and MARA Holdings, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
BTG and MARA have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MARA has higher volatility (23.71%) compared to BTG (15.76%). In terms of maximum drawdown, BTG dropped -85.97% vs MARA's -99.74%.
BTG currently has the higher Sharpe Ratio (0.28 vs -0.14), 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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