EXEL vs. BTI

Last updated Jun 9, 2026

EXEL (Exelixis, Inc.) and BTI (British American Tobacco p.l.c.) are both stocks. EXEL operates in Biotechnology (Healthcare), while BTI operates in Tobacco (Consumer Defensive). Over the past 10 years, EXEL returned 21.50%/yr vs 6.81%/yr for BTI. At a 0.16 correlation, their price movements are largely independent.

Performance

EXEL vs. BTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Exelixis, Inc. (EXEL) and British American Tobacco p.l.c. (BTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EXEL achieves a 18.05% return, which is significantly higher than BTI's 6.95% return. Over the past 10 years, EXEL has outperformed BTI with an annualized return of 21.50%, while BTI has yielded a comparatively lower 6.81% annualized return.

EXEL

• 1D: -1.82%
• 1M: 7.43%
• YTD: 18.05%
• 6M: 22.69%
• 1Y: 20.24%
• 3Y*: 39.16%
• 5Y*: 17.83%
• 10Y*: 21.50%

BTI

• 1D: -0.05%
• 1M: 2.42%
• YTD: 6.95%
• 6M: 6.89%
• 1Y: 32.33%
• 3Y*: 32.33%
• 5Y*: 17.04%
• 10Y*: 6.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EXEL vs. BTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXEL Exelixis, Inc.	18.05%	31.62%	38.81%	49.56%	-12.25%	-8.92%	13.90%	-10.42%	-35.30%	103.89%
BTI British American Tobacco p.l.c.	6.95%	65.81%	35.44%	-19.97%	14.91%	7.95%	-4.73%	42.97%	-49.35%	24.40%

Correlation

The correlation between EXEL 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	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 18, 2000	0.16

Fundamentals

Market Cap EXEL : $13.83B BTI : $130.90B
EPS EXEL : $3.00 BTI : $4.93
PE Ratio EXEL : 17.26 BTI : 12.12
PEG Ratio EXEL : 0.30 BTI : 0.45
PS Ratio EXEL : 6.06 BTI : 2.55
PB Ratio EXEL : 7.15 BTI : 2.73
Total Revenue (TTM) EXEL : $2.38B BTI : $51.48B
Gross Profit (TTM) EXEL : $1.70B BTI : $42.82B
EBITDA (TTM) EXEL : $991.79M BTI : $20.34B

Return for Risk

EXEL vs. BTI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EXEL

EXEL Risk / Return Rank: 58
EXEL Sharpe Ratio Rank: 60
EXEL Sortino Ratio Rank: 53
EXEL Omega Ratio Rank: 56
EXEL Calmar Ratio Rank: 60
EXEL Martin Ratio Rank: 61

BTI

BTI Risk / Return Rank: 78
BTI Sharpe Ratio Rank: 81
BTI Sortino Ratio Rank: 77
BTI Omega Ratio Rank: 73
BTI Calmar Ratio Rank: 79
BTI Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EXEL vs. BTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Exelixis, Inc. (EXEL) 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.

	EXEL	BTI	Difference
Sharpe ratio: Return per unit of total volatility	0.50	1.42	-0.92
Sortino ratio: Return per unit of downside risk	0.92	2.03	-1.11
Omega ratio: Gain probability vs. loss probability	1.13	1.24	-0.11
Calmar ratio: Return relative to maximum drawdown	0.81	2.36	-1.55
Martin ratio: Return relative to average drawdown	1.94	5.39	-3.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXEL vs. BTI - Sharpe Ratio Comparison

The current EXEL Sharpe Ratio is 0.50, which is lower than the BTI Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of EXEL and BTI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EXEL	BTI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	1.42	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.81	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.28	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.58	-0.50

Drawdowns

EXEL vs. BTI - Drawdown Comparison

The maximum EXEL drawdown since its inception was -97.38%, which is greater than BTI's maximum drawdown of -64.11%. Use the drawdown chart below to compare losses from any high point for EXEL and BTI.

Drawdown Indicators

	EXEL	BTI	Difference
Max Drawdown Largest peak-to-trough decline	-97.38%	-64.11%	-33.27%
Max Drawdown (1Y) Largest decline over 1 year	-25.16%	-13.75%	-11.41%
Max Drawdown (3Y) Largest decline over 3 years	-25.34%	-13.75%	-11.59%
Max Drawdown (5Y) Largest decline over 5 years	-36.12%	-29.94%	-6.18%
Max Drawdown (10Y) Largest decline over 10 years	-57.20%	-56.00%	-1.20%
Current Drawdown Current decline from peak	-1.82%	-10.51%	+8.69%
Average Drawdown Average peak-to-trough decline	-71.08%	-12.93%	-58.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.44%	6.01%	+4.43%

Volatility

EXEL vs. BTI - Volatility Comparison

Exelixis, Inc. (EXEL) has a higher volatility of 11.21% compared to British American Tobacco p.l.c. (BTI) at 10.01%. This indicates that EXEL'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.

Volatility by Period

	EXEL	BTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.21%	10.01%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	25.96%	18.50%	+7.46%
Volatility (1Y) Calculated over the trailing 1-year period	40.34%	22.87%	+17.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.17%	21.15%	+16.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.47%	24.22%	+20.25%

Dividends

EXEL vs. BTI - Dividend Comparison

EXEL has not paid dividends to shareholders, while BTI's dividend yield for the trailing twelve months is around 5.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTI British American Tobacco p.l.c.	5.16%	5.29%	8.18%	9.72%	7.23%	7.98%	7.22%	6.35%	8.53%	4.27%	3.85%	4.11%
EXEL Exelixis, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

EXEL vs. BTI - Profitability Comparison

The chart below illustrates the profitability comparison between Exelixis, Inc. and British American Tobacco p.l.c. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

EXEL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Exelixis, Inc. reported a gross profit of 0.00 and revenue of 610.81M. Therefore, the gross margin over that period was 0.0%.

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%.

EXEL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Exelixis, Inc. reported an operating income of 251.34M and revenue of 610.81M, resulting in an operating margin of 41.2%.

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%.

EXEL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Exelixis, Inc. reported a net income of 210.47M and revenue of 610.81M, resulting in a net margin of 34.5%.

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

Can I hold both EXEL and BTI in my portfolio?

EXEL 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.

Which is riskier, EXEL or BTI?

EXEL has higher volatility (11.21%) compared to BTI (10.01%). In terms of maximum drawdown, EXEL dropped -97.38% vs BTI's -64.11%.

Which has better risk-adjusted returns?

BTI currently has the higher Sharpe Ratio (1.42 vs 0.50), 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.