CP vs. IBIT
CP (Canadian Pacific Railway Limited) is a stock, while IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Over the past year, CP returned 11.97% vs -40.63% for IBIT. At a 0.18 correlation, their price movements are largely independent.
Performance
CP vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, CP achieves a 22.60% return, which is significantly higher than IBIT's -27.41% return.
CP
- 1D
- 0.86%
- 1M
- 5.18%
- YTD
- 22.60%
- 6M
- 20.36%
- 1Y
- 11.97%
- 3Y*
- 6.19%
- 5Y*
- 3.16%
- 10Y*
- 14.53%
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CP vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CP Canadian Pacific Railway Limited | 22.60% | 2.60% | -7.66% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between CP and IBIT is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.18 |
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Return for Risk
CP vs. IBIT — Risk / Return Rank
CP
IBIT
CP vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Pacific Railway Limited (CP) and iShares Bitcoin Trust ETF (IBIT). 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.
| CP | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.85 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | -0.78 | +1.52 |
| Martin ratioReturn relative to average drawdown | 1.41 | -1.37 | +2.78 |
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Drawdowns
CP vs. IBIT - Drawdown Comparison
The maximum CP drawdown since its inception was -69.17%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for CP and IBIT.
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Drawdown Indicators
| CP | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.17% | -52.11% | -17.06% |
Max Drawdown (1Y)Largest decline over 1 year | -16.23% | -52.11% | +35.88% |
Max Drawdown (3Y)Largest decline over 3 years | -25.88% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.70% | — | — |
Current DrawdownCurrent decline from peak | -1.29% | -49.45% | +48.16% |
Average DrawdownAverage peak-to-trough decline | -20.29% | -16.53% | -3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.50% | 29.64% | -21.14% |
Volatility
CP vs. IBIT - Volatility Comparison
The current volatility for Canadian Pacific Railway Limited (CP) is 5.88%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.07%. This indicates that CP experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CP | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 12.07% | -6.19% |
Volatility (6M)Calculated over the trailing 6-month period | 17.25% | 34.45% | -17.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.48% | 44.10% | -21.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.45% | 50.26% | -25.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.60% | 50.26% | -24.66% |
Dividends
CP vs. IBIT - Dividend Comparison
CP's dividend yield for the trailing twelve months is around 0.74%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CP Canadian Pacific Railway Limited | 0.74% | 0.86% | 0.76% | 0.78% | 0.96% | 0.84% | 0.76% | 0.93% | 1.07% | 0.92% | 0.98% | 0.98% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CP and IBIT have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to CP (5.88%). In terms of maximum drawdown, CP dropped -69.17% vs IBIT's -52.11%.
CP currently has the higher Sharpe Ratio (0.53 vs -0.92), 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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