GBDC vs. BTC-USD
GBDC (Golub Capital BDC, Inc.) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, GBDC returned 6.73%/yr vs 57.32%/yr for BTC-USD. At a 0.06 correlation, their price movements are largely independent.
Performance
GBDC vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, GBDC achieves a 0.68% return, which is significantly higher than BTC-USD's -27.32% return. Over the past 10 years, GBDC has underperformed BTC-USD with an annualized return of 6.73%, while BTC-USD has yielded a comparatively higher 57.32% annualized return.
GBDC
- 1D
- -0.30%
- 1M
- 1.53%
- YTD
- 0.68%
- 6M
- -0.71%
- 1Y
- -2.64%
- 3Y*
- 10.34%
- 5Y*
- 6.81%
- 10Y*
- 6.73%
BTC-USD
- 1D
- 0.05%
- 1M
- -19.79%
- YTD
- -27.32%
- 6M
- -29.56%
- 1Y
- -39.85%
- 3Y*
- 34.86%
- 5Y*
- 10.27%
- 10Y*
- 57.32%
GBDC vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 0.68% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | -14.73% | 21.09% | -2.20% | 6.27% |
BTC-USD Bitcoin | -27.32% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between GBDC and BTC-USD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2012 | 0.06 |
Over the past year, GBDC and BTC-USD have become more correlated (0.26) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
GBDC vs. BTC-USD — Risk / Return Rank
GBDC
BTC-USD
GBDC vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Golub Capital BDC, Inc. (GBDC) and Bitcoin (BTC-USD). 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.
| GBDC | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.87 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | -0.78 | +0.63 |
| Martin ratioReturn relative to average drawdown | -0.31 | -1.36 | +1.05 |
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Drawdowns
GBDC vs. BTC-USD - Drawdown Comparison
The maximum GBDC drawdown since its inception was -47.30%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for GBDC and BTC-USD.
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Drawdown Indicators
| GBDC | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.30% | -85.30% | +38.00% |
Max Drawdown (1Y)Largest decline over 1 year | -18.20% | -51.21% | +33.01% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -51.21% | +33.01% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -76.67% | +57.39% |
Max Drawdown (10Y)Largest decline over 10 years | -47.30% | -83.80% | +36.50% |
Current DrawdownCurrent decline from peak | -6.79% | -49.01% | +42.22% |
Average DrawdownAverage peak-to-trough decline | -6.13% | -42.35% | +36.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.56% | 35.02% | -26.46% |
Volatility
GBDC vs. BTC-USD - Volatility Comparison
The current volatility for Golub Capital BDC, Inc. (GBDC) is 5.60%, while Bitcoin (BTC-USD) has a volatility of 12.11%. This indicates that GBDC experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBDC | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 12.11% | -6.51% |
Volatility (6M)Calculated over the trailing 6-month period | 15.83% | 34.59% | -18.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.15% | 35.62% | -16.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.19% | 44.71% | -27.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 56.62% | -35.06% |
Frequently Asked Questions
GBDC and BTC-USD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (12.11%) compared to GBDC (5.60%). In terms of maximum drawdown, GBDC dropped -47.30% vs BTC-USD's -85.30%.
GBDC currently has the higher Sharpe Ratio (-0.14 vs -0.93), 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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