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 19.96%/yr vs 22.46%/yr for BITO. Their 0.68 correlation means they have sometimes moved together and sometimes differently.
Performance
COIN vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, COIN achieves a -33.35% return, which is significantly lower than BITO's -27.98% return.
COIN
- 1D
- 2.89%
- 1M
- -8.91%
- 6M
- -16.10%
- YTD
- -33.35%
- 1Y
- -52.63%
- 3Y*
- 19.96%
- 5Y*
- -10.02%
- 10Y*
- —
- ALL TIME*
- -16.03%
BITO
- 1D
- 0.58%
- 1M
- 4.24%
- 6M
- -17.22%
- YTD
- -27.98%
- 1Y
- -46.07%
- 3Y*
- 22.46%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.25B | $2.50B | $2.06B | |
| $1.28B | $1.17B | $1.47B |
COIN vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
COIN Coinbase Global, Inc. | -33.35% | -8.92% | 42.77% | 391.44% | -85.98% | -13.97% |
BITO ProShares Bitcoin Strategy ETF | -27.98% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between COIN and BITO is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
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 0.78 - 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 | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.83 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.85 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.24 | -1.29 | +0.05 |
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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 | -63.57% | -54.47% | -9.10% |
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 | -64.09% | -50.33% | -13.76% |
Average DrawdownAverage peak-to-trough decline | -52.84% | -37.20% | -15.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.54% | 35.76% | +6.78% |
Volatility
COIN vs. BITO - Volatility Comparison
Coinbase Global, Inc. (COIN) has a higher volatility of 19.94% compared to ProShares Bitcoin Strategy ETF (BITO) at 8.00%. 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 | 19.94% | 8.00% | +11.94% |
Volatility (6M)Calculated over the trailing 6-month period | 54.85% | 32.76% | +22.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.74% | 44.12% | +23.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 86.14% | 54.56% | +31.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 85.07% | 54.56% | +30.51% |
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 46.76%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 46.76% | 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 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COIN has higher volatility (19.94%) compared to BITO (8.00%). In terms of maximum drawdown, COIN dropped -91.46% vs BITO's -77.86%.
COIN currently has the higher Sharpe Ratio (-0.78 vs -1.05), 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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