CORZZ vs. BITO
CORZZ (Core Scientific Inc. Tranche 2 Warrants) is a stock, while BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares. Over the past year, CORZZ returned 50.61% vs -48.16% for BITO. At a 0.42 correlation, their price movements are largely independent.
Performance
CORZZ vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, CORZZ achieves a 43.67% return, which is significantly higher than BITO's -27.77% return.
CORZZ
- 1D
- -7.89%
- 1M
- -25.71%
- 6M
- 14.72%
- YTD
- 43.67%
- 1Y
- 50.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITO
- 1D
- -0.91%
- 1M
- -2.11%
- 6M
- -33.51%
- YTD
- -27.77%
- 1Y
- -48.16%
- 3Y*
- 21.06%
- 5Y*
- —
- 10Y*
- —
CORZZ vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CORZZ Core Scientific Inc. Tranche 2 Warrants | 43.67% | 3.71% | 601.00% |
BITO ProShares Bitcoin Strategy ETF | -27.77% | -11.19% | 121.41% |
Correlation
The correlation between CORZZ and BITO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2024 | 0.42 |
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Return for Risk
CORZZ vs. BITO — Risk / Return Rank
CORZZ
BITO
CORZZ vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Core Scientific Inc. Tranche 2 Warrants (CORZZ) 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.
| CORZZ | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +3.12 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.81 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | -0.89 | +2.15 |
| Martin ratioReturn relative to average drawdown | 2.62 | -1.42 | +4.04 |
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Drawdowns
CORZZ vs. BITO - Drawdown Comparison
The maximum CORZZ drawdown since its inception was -65.20%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for CORZZ and BITO.
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Drawdown Indicators
| CORZZ | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.20% | -77.86% | +12.66% |
Max Drawdown (1Y)Largest decline over 1 year | -40.39% | -54.47% | +14.08% |
Max Drawdown (3Y)Largest decline over 3 years | — | -54.47% | — |
Current DrawdownCurrent decline from peak | -28.21% | -50.18% | +21.97% |
Average DrawdownAverage peak-to-trough decline | -21.17% | -37.06% | +15.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.38% | 33.91% | -14.53% |
Volatility
CORZZ vs. BITO - Volatility Comparison
Core Scientific Inc. Tranche 2 Warrants (CORZZ) has a higher volatility of 19.03% compared to ProShares Bitcoin Strategy ETF (BITO) at 10.49%. This indicates that CORZZ'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
| CORZZ | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.03% | 10.49% | +8.54% |
Volatility (6M)Calculated over the trailing 6-month period | 48.79% | 34.48% | +14.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.15% | 44.10% | +20.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.98% | 54.80% | +42.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.98% | 54.80% | +42.18% |
Dividends
CORZZ vs. BITO - Dividend Comparison
CORZZ has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 60.24%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 60.24% | 78.29% | 61.59% | 15.14% |
CORZZ Core Scientific Inc. Tranche 2 Warrants | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CORZZ and BITO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CORZZ has higher volatility (19.03%) compared to BITO (10.49%). In terms of maximum drawdown, CORZZ dropped -65.20% vs BITO's -77.86%.
CORZZ currently has the higher Sharpe Ratio (0.79 vs -1.10), 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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