COIN vs. BITO
COIN (Coinbase Global, Inc.) is a stock, while BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares. Over the past 3 years, COIN returned 16.66%/yr vs 21.02%/yr for BITO. A 0.68 correlation means they provide meaningful diversification when combined.
Performance
COIN vs. BITO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with COIN having a -26.06% return and BITO slightly lower at -27.10%.
COIN
- 1D
- 3.54%
- 1M
- -1.42%
- 6M
- -34.65%
- YTD
- -26.06%
- 1Y
- -56.91%
- 3Y*
- 16.66%
- 5Y*
- -5.77%
- 10Y*
- —
BITO
- 1D
- 0.57%
- 1M
- -2.64%
- 6M
- -34.63%
- YTD
- -27.10%
- 1Y
- -46.42%
- 3Y*
- 21.02%
- 5Y*
- —
- 10Y*
- —
COIN vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
COIN Coinbase Global, Inc. | -26.06% | -8.92% | 42.77% | 391.44% | -85.98% | -13.97% |
BITO ProShares Bitcoin Strategy ETF | -27.10% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between COIN and BITO is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.68 |
The correlation between COIN and BITO has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
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Return for Risk
COIN vs. BITO — Risk / Return Rank
COIN
BITO
COIN vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Coinbase Global, Inc. (COIN) and ProShares Bitcoin Strategy ETF (BITO). 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.
| COIN | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.82 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.85 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.27 | -1.38 | +0.10 |
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Drawdowns
COIN vs. BITO - Drawdown Comparison
The maximum COIN drawdown since its inception was -91.46%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for COIN and BITO.
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Drawdown Indicators
| COIN | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.46% | -77.86% | -13.60% |
Max Drawdown (1Y)Largest decline over 1 year | -66.39% | -54.47% | -11.92% |
Max Drawdown (3Y)Largest decline over 3 years | -66.39% | -54.47% | -11.92% |
Max Drawdown (5Y)Largest decline over 5 years | -90.90% | — | — |
Current DrawdownCurrent decline from peak | -60.17% | -49.72% | -10.45% |
Average DrawdownAverage peak-to-trough decline | -52.75% | -37.05% | -15.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.73% | 33.76% | +10.97% |
Volatility
COIN vs. BITO - Volatility Comparison
Coinbase Global, Inc. (COIN) has a higher volatility of 17.17% compared to ProShares Bitcoin Strategy ETF (BITO) at 11.45%. This indicates that COIN's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COIN | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.17% | 11.45% | +5.72% |
Volatility (6M)Calculated over the trailing 6-month period | 52.98% | 34.67% | +18.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.63% | 44.18% | +23.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 85.94% | 54.82% | +31.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 85.13% | 54.82% | +30.31% |
Dividends
COIN vs. BITO - Dividend Comparison
COIN has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 59.70%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 59.70% | 78.29% | 61.59% | 15.14% |
COIN Coinbase Global, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COIN and BITO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COIN has higher volatility (17.17%) compared to BITO (11.45%). In terms of maximum drawdown, COIN dropped -91.46% vs BITO's -77.86%.
COIN currently has the higher Sharpe Ratio (-0.84 vs -1.06), 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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