CAN vs. RIOT

Last updated Jun 24, 2026

CAN (Canaan Inc.) and RIOT (Riot Platforms, Inc.) are both stocks. Both are in the Technology sector — CAN in Computer Hardware, RIOT in Software - Application. Over the past 5 years, CAN returned -46.98%/yr vs -3.35%/yr for RIOT. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

CAN vs. RIOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Canaan Inc. (CAN) and Riot Platforms, Inc. (RIOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAN achieves a -50.58% return, which is significantly lower than RIOT's 126.44% return.

CAN

• 1D: -2.82%
• 1M: -17.83%
• YTD: -50.58%
• 6M: -56.97%
• 1Y: -43.98%
• 3Y*: -44.91%
• 5Y*: -46.98%
• 10Y*: —

RIOT

• 1D: 0.21%
• 1M: 17.15%
• YTD: 126.44%
• 6M: 109.88%
• 1Y: 209.49%
• 3Y*: 35.24%
• 5Y*: -3.35%
• 10Y*: 24.91%

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

CAN vs. RIOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CAN Canaan Inc.	-50.58%	-66.34%	-11.26%	12.14%	-60.00%	-13.15%	-2.79%	-32.22%
RIOT Riot Platforms, Inc.	126.44%	24.09%	-34.00%	356.34%	-84.82%	31.43%	1,416.96%	-22.22%

Correlation

The correlation between CAN and RIOT is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Nov 20, 2019	0.56

The correlation between CAN and RIOT shifts across timeframes, from 0.50 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CAN : $235.77M RIOT : $9.97B
EPS CAN : -$0.38 RIOT : -$2.35
PS Ratio CAN : 0.38 RIOT : 16.19
PB Ratio CAN : 0.62 RIOT : 4.16
Total Revenue (TTM) CAN : $510.04M RIOT : $653.27M
Gross Profit (TTM) CAN : $17.56M RIOT : $179.76M
EBITDA (TTM) CAN : -$144.51M RIOT : -$482.33M

Return for Risk

CAN vs. RIOT — Risk / Return Rank

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

CAN

CAN Risk / Return Rank: 29
CAN Sharpe Ratio Rank: 26
CAN Sortino Ratio Rank: 35
CAN Omega Ratio Rank: 34
CAN Calmar Ratio Rank: 24
CAN Martin Ratio Rank: 27

RIOT

RIOT Risk / Return Rank: 88
RIOT Sharpe Ratio Rank: 93
RIOT Sortino Ratio Rank: 87
RIOT Omega Ratio Rank: 85
RIOT Calmar Ratio Rank: 90
RIOT Martin Ratio Rank: 85

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.

CAN vs. RIOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canaan Inc. (CAN) and Riot Platforms, Inc. (RIOT). 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.

	CAN	RIOT	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	2.52	-2.89
Sortino ratio: Return per unit of downside risk	0.13	2.78	-2.65
Omega ratio: Gain probability vs. loss probability	1.01	1.35	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.52	4.34	-4.87
Martin ratio: Return relative to average drawdown	-0.77	8.59	-9.36

CAN vs. RIOT - Sharpe Ratio Comparison

The current CAN Sharpe Ratio is -0.37, which is lower than the RIOT Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of CAN and RIOT, 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

CAN vs. RIOT - Drawdown Comparison

The maximum CAN drawdown since its inception was -99.12%, roughly equal to the maximum RIOT drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for CAN and RIOT.

Drawdown Indicators

	CAN	RIOT	Difference
Max Drawdown Largest peak-to-trough decline	-99.12%	-99.98%	+0.86%
Max Drawdown (1Y) Largest decline over 1 year	-84.38%	-48.57%	-35.81%
Max Drawdown (3Y) Largest decline over 3 years	-89.96%	-69.00%	-20.96%
Max Drawdown (5Y) Largest decline over 5 years	-97.01%	-92.55%	-4.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-98.32%	—
Current Drawdown Current decline from peak	-99.06%	-99.10%	+0.04%
Average Drawdown Average peak-to-trough decline	-83.82%	-87.85%	+4.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.17%	24.49%	+32.68%

Volatility

CAN vs. RIOT - Volatility Comparison

Canaan Inc. (CAN) has a higher volatility of 19.57% compared to Riot Platforms, Inc. (RIOT) at 18.61%. This indicates that CAN's price experiences larger fluctuations and is considered to be riskier than RIOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAN	RIOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.57%	18.61%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	60.78%	60.82%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	119.58%	83.62%	+35.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.24%	93.65%	+17.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	126.20%	112.18%	+14.02%

Dividends

CAN vs. RIOT - Dividend Comparison

Neither CAN nor RIOT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAN Canaan Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RIOT Riot Platforms, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.52%

Financials

Frequently Asked Questions

Can I hold both CAN and RIOT in my portfolio?

CAN and RIOT have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAN or RIOT?

CAN has higher volatility (19.57%) compared to RIOT (18.61%). In terms of maximum drawdown, CAN dropped -99.12% vs RIOT's -99.98%.

Which has better risk-adjusted returns?

RIOT currently has the higher Sharpe Ratio (2.52 vs -0.37), 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.