CPA vs. BTI
CPA (Copa Holdings, S.A.) and BTI (British American Tobacco p.l.c.) are both stocks. CPA operates in Airlines (Industrials), while BTI operates in Tobacco (Consumer Defensive). Over the past 10 years, CPA returned 14.43%/yr vs 6.74%/yr for BTI. At a 0.24 correlation, their price movements are largely independent.
Performance
CPA vs. BTI - Performance Comparison
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Returns By Period
In the year-to-date period, CPA achieves a 29.89% return, which is significantly higher than BTI's 5.54% return. Over the past 10 years, CPA has outperformed BTI with an annualized return of 14.43%, while BTI has yielded a comparatively lower 6.74% annualized return.
CPA
- 1D
- 1.29%
- 1M
- 13.03%
- YTD
- 29.89%
- 6M
- 26.63%
- 1Y
- 56.99%
- 3Y*
- 17.93%
- 5Y*
- 18.54%
- 10Y*
- 14.43%
BTI
- 1D
- -0.02%
- 1M
- -9.88%
- YTD
- 5.54%
- 6M
- 6.66%
- 1Y
- 27.35%
- 3Y*
- 30.91%
- 5Y*
- 17.31%
- 10Y*
- 6.74%
CPA vs. BTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CPA Copa Holdings, S.A. | 29.89% | 45.60% | -11.54% | 32.38% | 0.62% | 7.03% | -27.90% | 41.09% | -39.17% | 50.74% |
BTI British American Tobacco p.l.c. | 5.54% | 65.81% | 35.44% | -19.97% | 14.91% | 7.95% | -4.73% | 42.97% | -49.35% | 24.40% |
Correlation
The correlation between CPA and BTI is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2005 | 0.24 |
The correlation between CPA and BTI shifts across timeframes, from 0.11 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
Fundamentals
CPA:
$6.30B
BTI:
$129.17B
CPA:
$17.16
BTI:
£4.93
CPA:
8.91
BTI:
9.04
CPA:
0.04
BTI:
0.34
CPA:
1.67
BTI:
1.90
CPA:
2.19
BTI:
2.04
CPA:
$3.77B
BTI:
£51.48B
CPA:
$1.23B
BTI:
£42.82B
CPA:
$1.20B
BTI:
£20.34B
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Return for Risk
CPA vs. BTI — Risk / Return Rank
CPA
BTI
CPA vs. BTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Copa Holdings, S.A. (CPA) and British American Tobacco p.l.c. (BTI). 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.
| CPA | BTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.00 | -0.04 |
| Martin ratioReturn relative to average drawdown | 5.08 | 4.38 | +0.70 |
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Drawdowns
CPA vs. BTI - Drawdown Comparison
The maximum CPA drawdown since its inception was -78.99%, which is greater than BTI's maximum drawdown of -64.11%. Use the drawdown chart below to compare losses from any high point for CPA and BTI.
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Drawdown Indicators
| CPA | BTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.99% | -64.11% | -14.88% |
Max Drawdown (1Y)Largest decline over 1 year | -29.22% | -13.75% | -15.47% |
Max Drawdown (3Y)Largest decline over 3 years | -33.47% | -13.75% | -19.72% |
Max Drawdown (5Y)Largest decline over 5 years | -42.52% | -29.94% | -12.58% |
Max Drawdown (10Y)Largest decline over 10 years | -78.94% | -56.00% | -22.94% |
Current DrawdownCurrent decline from peak | 0.00% | -11.69% | +11.69% |
Average DrawdownAverage peak-to-trough decline | -27.75% | -12.93% | -14.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.26% | 6.26% | +5.00% |
Volatility
CPA vs. BTI - Volatility Comparison
Copa Holdings, S.A. (CPA) has a higher volatility of 13.03% compared to British American Tobacco p.l.c. (BTI) at 7.24%. This indicates that CPA's price experiences larger fluctuations and is considered to be riskier than BTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPA | BTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.03% | 7.24% | +5.79% |
Volatility (6M)Calculated over the trailing 6-month period | 35.39% | 18.61% | +16.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.11% | 23.12% | +17.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.38% | 21.21% | +15.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.95% | 24.19% | +20.76% |
Dividends
CPA vs. BTI - Dividend Comparison
CPA's dividend yield for the trailing twelve months is around 4.34%, less than BTI's 5.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTI British American Tobacco p.l.c. | 5.23% | 5.29% | 8.18% | 9.72% | 7.23% | 7.98% | 7.22% | 6.35% | 8.53% | 4.27% | 3.85% | 4.11% |
CPA Copa Holdings, S.A. | 4.34% | 5.34% | 7.33% | 3.09% | 0.00% | 0.00% | 1.04% | 2.41% | 4.42% | 1.88% | 2.25% | 6.96% |
Financials
CPA vs. BTI - Financials Comparison
This section allows you to compare key financial metrics between Copa Holdings, S.A. and British American Tobacco p.l.c.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CPA vs. BTI - Profitability Comparison
CPA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Copa Holdings, S.A. reported a gross profit of 377.63M and revenue of 1.05B. Therefore, the gross margin over that period was 35.9%.
BTI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, British American Tobacco p.l.c. reported a gross profit of 11.30B and revenue of 13.54B. Therefore, the gross margin over that period was 83.4%.
CPA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Copa Holdings, S.A. reported an operating income of 258.64M and revenue of 1.05B, resulting in an operating margin of 24.6%.
BTI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, British American Tobacco p.l.c. reported an operating income of 4.93B and revenue of 13.54B, resulting in an operating margin of 36.4%.
CPA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Copa Holdings, S.A. reported a net income of 212.47M and revenue of 1.05B, resulting in a net margin of 20.2%.
BTI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, British American Tobacco p.l.c. reported a net income of 3.25B and revenue of 13.54B, resulting in a net margin of 24.0%.
Frequently Asked Questions
CPA and BTI have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CPA has higher volatility (13.03%) compared to BTI (7.24%). In terms of maximum drawdown, CPA dropped -78.99% vs BTI's -64.11%.
CPA currently has the higher Sharpe Ratio (1.40 vs 1.19), 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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