CMCL vs. BTG-USD
CMCL (Caledonia Mining Corporation Plc) is a stock, while BTG-USD (Bitcoin Gold) is a cryptocurrency. Over the past 5 years, CMCL returned 11.15%/yr vs -63.09%/yr for BTG-USD. At a 0.04 correlation, their price movements are largely independent.
Performance
CMCL vs. BTG-USD - Performance Comparison
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Returns By Period
In the year-to-date period, CMCL achieves a -32.98% return, which is significantly higher than BTG-USD's -59.04% return.
CMCL
- 1D
- -2.42%
- 1M
- -14.12%
- 6M
- -46.25%
- YTD
- -32.98%
- 1Y
- -15.01%
- 3Y*
- 15.95%
- 5Y*
- 11.15%
- 10Y*
- —
BTG-USD
- 1D
- 11.37%
- 1M
- 59.65%
- 6M
- -53.20%
- YTD
- -59.04%
- 1Y
- -55.95%
- 3Y*
- -72.38%
- 5Y*
- -63.09%
- 10Y*
- —
CMCL vs. BTG-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMCL Caledonia Mining Corporation Plc | -32.98% | 186.75% | -18.90% | 2.65% | 11.39% | -23.84% | 93.29% | 67.37% | -26.33% | 31.96% |
BTG-USD Bitcoin Gold | -59.04% | -92.37% | -56.73% | 85.84% | -70.99% | 382.62% | 56.48% | -57.33% | -94.85% | 55.62% |
Correlation
The correlation between CMCL and BTG-USD is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2017 | 0.04 |
The correlation between CMCL and BTG-USD shifts across timeframes, from -0.07 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CMCL vs. BTG-USD — Risk / Return Rank
CMCL
BTG-USD
CMCL vs. BTG-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Caledonia Mining Corporation Plc (CMCL) and Bitcoin Gold (BTG-USD). 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.
| CMCL | BTG-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -6.61 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.71 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | -0.60 | +0.32 |
| Martin ratioReturn relative to average drawdown | -0.53 | -0.89 | +0.36 |
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Drawdowns
CMCL vs. BTG-USD - Drawdown Comparison
The maximum CMCL drawdown since its inception was -65.77%, smaller than the maximum BTG-USD drawdown of -99.96%. Use the drawdown chart below to compare losses from any high point for CMCL and BTG-USD.
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Drawdown Indicators
| CMCL | BTG-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.77% | -99.96% | +34.19% |
Max Drawdown (1Y)Largest decline over 1 year | -53.26% | -93.25% | +39.99% |
Max Drawdown (3Y)Largest decline over 3 years | -53.26% | -99.71% | +46.45% |
Max Drawdown (5Y)Largest decline over 5 years | -53.26% | -99.79% | +46.53% |
Current DrawdownCurrent decline from peak | -53.26% | -99.94% | +46.68% |
Average DrawdownAverage peak-to-trough decline | -35.88% | -93.38% | +57.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.25% | 66.92% | -38.67% |
Volatility
CMCL vs. BTG-USD - Volatility Comparison
The current volatility for Caledonia Mining Corporation Plc (CMCL) is 14.68%, while Bitcoin Gold (BTG-USD) has a volatility of 129.59%. This indicates that CMCL experiences smaller price fluctuations and is considered to be less risky than BTG-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMCL | BTG-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.68% | 129.59% | -114.91% |
Volatility (6M)Calculated over the trailing 6-month period | 45.66% | 587.00% | -541.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.01% | 683.95% | -618.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.76% | 379.90% | -327.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.52% | 301.18% | -246.66% |
Frequently Asked Questions
CMCL and BTG-USD have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTG-USD has higher volatility (129.59%) compared to CMCL (14.68%). In terms of maximum drawdown, CMCL dropped -65.77% vs BTG-USD's -99.96%.
BTG-USD currently has the higher Sharpe Ratio (-0.07 vs -0.23), 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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