CDE vs. BTG
CDE (Coeur Mining, Inc.) and BTG (B2Gold Corp.) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, CDE returned 5.08%/yr vs 7.81%/yr for BTG. A 0.57 correlation means they provide meaningful diversification when combined.
Performance
CDE vs. BTG - Performance Comparison
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Returns By Period
In the year-to-date period, CDE achieves a -8.37% return, which is significantly higher than BTG's -10.30% return. Over the past 10 years, CDE has underperformed BTG with an annualized return of 5.08%, while BTG has yielded a comparatively higher 7.81% annualized return.
CDE
- 1D
- -6.58%
- 1M
- -7.43%
- YTD
- -8.37%
- 6M
- -14.41%
- 1Y
- 80.33%
- 3Y*
- 80.90%
- 5Y*
- 11.93%
- 10Y*
- 5.08%
BTG
- 1D
- -4.52%
- 1M
- -12.01%
- YTD
- -10.30%
- 6M
- -15.19%
- 1Y
- 11.24%
- 3Y*
- 8.00%
- 5Y*
- 2.40%
- 10Y*
- 7.81%
CDE vs. BTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CDE Coeur Mining, Inc. | -8.37% | 211.71% | 75.46% | -2.98% | -33.33% | -51.30% | 28.09% | 80.76% | -40.40% | -17.49% |
BTG B2Gold Corp. | -10.30% | 88.95% | -18.07% | -7.22% | -5.13% | -26.97% | 42.35% | 37.72% | -5.81% | 30.80% |
Correlation
The correlation between CDE and BTG is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2008 | 0.57 |
The correlation between CDE and BTG shifts across timeframes, from 0.57 (all time) to 0.69 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CDE:
$1.64
BTG:
$0.36
CDE:
9.93
BTG:
11.25
CDE:
0.09
BTG:
0.01
CDE:
3.09
BTG:
1.66
CDE:
$2.57B
BTG:
$3.67B
CDE:
$909.07M
BTG:
$1.89B
CDE:
$1.23B
BTG:
$1.96B
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Return for Risk
CDE vs. BTG — Risk / Return Rank
CDE
BTG
CDE vs. BTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Coeur Mining, Inc. (CDE) and B2Gold Corp. (BTG). 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.
| CDE | BTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.08 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 0.31 | +1.57 |
| Martin ratioReturn relative to average drawdown | 3.61 | 0.59 | +3.02 |
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Drawdowns
CDE vs. BTG - Drawdown Comparison
The maximum CDE drawdown since its inception was -99.40%, which is greater than BTG's maximum drawdown of -85.97%. Use the drawdown chart below to compare losses from any high point for CDE and BTG.
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Drawdown Indicators
| CDE | BTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -85.97% | -13.43% |
Max Drawdown (1Y)Largest decline over 1 year | -43.18% | -36.97% | -6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -43.18% | -36.97% | -6.21% |
Max Drawdown (5Y)Largest decline over 5 years | -77.44% | -48.92% | -28.52% |
Max Drawdown (10Y)Largest decline over 10 years | -87.42% | -63.35% | -24.07% |
Current DrawdownCurrent decline from peak | -94.34% | -34.85% | -59.49% |
Average DrawdownAverage peak-to-trough decline | -81.50% | -38.33% | -43.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.36% | 19.18% | +3.18% |
Volatility
CDE vs. BTG - Volatility Comparison
Coeur Mining, Inc. (CDE) has a higher volatility of 22.87% compared to B2Gold Corp. (BTG) at 16.97%. This indicates that CDE's price experiences larger fluctuations and is considered to be riskier than BTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDE | BTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.87% | 16.97% | +5.90% |
Volatility (6M)Calculated over the trailing 6-month period | 55.89% | 45.38% | +10.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.05% | 56.10% | +15.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.53% | 44.89% | +23.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.92% | 48.20% | +20.72% |
Dividends
CDE vs. BTG - Dividend Comparison
CDE's dividend yield for the trailing twelve months is around 0.12%, less than BTG's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BTG B2Gold Corp. | 2.00% | 1.77% | 6.56% | 5.06% | 4.48% | 4.07% | 1.96% | 0.25% |
CDE Coeur Mining, Inc. | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
CDE vs. BTG - Financials Comparison
This section allows you to compare key financial metrics between Coeur Mining, Inc. and B2Gold Corp.. 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
CDE vs. BTG - Profitability Comparison
CDE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Coeur Mining, Inc. reported a gross profit of 0.00 and revenue of 856.19M. Therefore, the gross margin over that period was 0.0%.
BTG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, B2Gold Corp. reported a gross profit of 601.32M and revenue of 1.14B. Therefore, the gross margin over that period was 52.6%.
CDE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Coeur Mining, Inc. reported an operating income of 349.17M and revenue of 856.19M, resulting in an operating margin of 40.8%.
BTG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, B2Gold Corp. reported an operating income of 572.52M and revenue of 1.14B, resulting in an operating margin of 50.1%.
CDE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Coeur Mining, Inc. reported a net income of 246.76M and revenue of 856.19M, resulting in a net margin of 28.8%.
BTG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, B2Gold Corp. reported a net income of 197.17M and revenue of 1.14B, resulting in a net margin of 17.3%.
Frequently Asked Questions
CDE and BTG have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDE has higher volatility (22.87%) compared to BTG (16.97%). In terms of maximum drawdown, CDE dropped -99.40% vs BTG's -85.97%.
CDE currently has the higher Sharpe Ratio (1.12 vs 0.20), 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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