COIN vs. BITO
Compare and contrast key facts about Coinbase Global, Inc. (COIN) and ProShares Bitcoin Strategy ETF (BITO).
BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: COIN or BITO.
Key characteristics
| COIN | BITO | |
|---|---|---|
| YTD Return | 75.86% | 104.81% |
| 1Y Return | 215.57% | 134.95% |
| 3Y Return (Ann) | -3.68% | 9.90% |
| Sharpe Ratio | 2.45 | 2.14 |
| Sortino Ratio | 3.02 | 2.73 |
| Omega Ratio | 1.34 | 1.32 |
| Calmar Ratio | 2.90 | 2.47 |
| Martin Ratio | 9.17 | 9.18 |
| Ulcer Index | 23.07% | 13.50% |
| Daily Std Dev | 86.26% | 57.80% |
| Max Drawdown | -90.90% | -77.86% |
| Current Drawdown | -14.42% | 0.00% |
Correlation
The correlation between COIN and BITO is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
COIN vs. BITO - Performance Comparison
In the year-to-date period, COIN achieves a 75.86% return, which is significantly lower than BITO's 104.81% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
COIN vs. BITO - Risk-Adjusted Performance 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.
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 49.45%.
| TTM | 2023 | |
|---|---|---|
COIN Coinbase Global, Inc. | 0.00% | 0.00% |
BITO ProShares Bitcoin Strategy ETF | 49.45% | 15.14% |
Drawdowns
COIN vs. BITO - Drawdown Comparison
The maximum COIN drawdown since its inception was -90.90%, 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. For additional features, visit the drawdowns tool.
Volatility
COIN vs. BITO - Volatility Comparison
Coinbase Global, Inc. (COIN) has a higher volatility of 42.40% compared to ProShares Bitcoin Strategy ETF (BITO) at 18.53%. 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.