GBTC vs. RIOT
GBTC (Grayscale Bitcoin Trust ETF) is Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index, while RIOT (Riot Platforms, Inc.) is a stock. Over the past 10 years, GBTC returned 45.83%/yr vs 20.00%/yr for RIOT. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
GBTC vs. RIOT - Performance Comparison
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Returns By Period
In the year-to-date period, GBTC achieves a -26.36% return, which is significantly lower than RIOT's 58.64% return. Over the past 10 years, GBTC has outperformed RIOT with an annualized return of 45.83%, while RIOT has yielded a comparatively lower 20.00% annualized return.
GBTC
- 1D
- 0.62%
- 1M
- -2.54%
- 6M
- -34.03%
- YTD
- -26.36%
- 1Y
- -45.06%
- 3Y*
- 36.60%
- 5Y*
- 13.95%
- 10Y*
- 45.83%
RIOT
- 1D
- -0.45%
- 1M
- -26.59%
- 6M
- 16.12%
- YTD
- 58.64%
- 1Y
- 66.12%
- 3Y*
- 1.68%
- 5Y*
- -5.93%
- 10Y*
- 20.00%
GBTC vs. RIOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust ETF | -26.36% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -82.10% | 1,787.72% |
RIOT Riot Platforms, Inc. | 58.64% | 24.09% | -34.00% | 356.34% | -84.82% | 31.43% | 1,416.96% | -25.83% | -94.68% | 729.34% |
Correlation
The correlation between GBTC and RIOT is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since May 4, 2015 | 0.52 |
The correlation between GBTC and RIOT shifts across timeframes, from 0.51 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
GBTC:
$0.00
RIOT:
$653.27M
GBTC:
$0.00
RIOT:
$179.76M
GBTC:
$4.58B
RIOT:
-$482.33M
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Return for Risk
GBTC vs. RIOT — Risk / Return Rank
GBTC
RIOT
GBTC vs. RIOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust ETF (GBTC) and Riot Platforms, Inc. (RIOT). 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.
| GBTC | RIOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -3.06 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.19 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 1.37 | -2.21 |
| Martin ratioReturn relative to average drawdown | -1.36 | 2.65 | -4.01 |
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Drawdowns
GBTC vs. RIOT - Drawdown Comparison
The maximum GBTC drawdown since its inception was -89.91%, smaller than the maximum RIOT drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for GBTC and RIOT.
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Drawdown Indicators
| GBTC | RIOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.91% | -99.98% | +10.07% |
Max Drawdown (1Y)Largest decline over 1 year | -53.75% | -48.57% | -5.18% |
Max Drawdown (3Y)Largest decline over 3 years | -53.75% | -66.77% | +13.02% |
Max Drawdown (5Y)Largest decline over 5 years | -85.42% | -92.55% | +7.13% |
Max Drawdown (10Y)Largest decline over 10 years | -89.91% | -98.32% | +8.41% |
Current DrawdownCurrent decline from peak | -48.86% | -99.37% | +50.51% |
Average DrawdownAverage peak-to-trough decline | -43.49% | -87.87% | +44.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.24% | 25.02% | +8.22% |
Volatility
GBTC vs. RIOT - Volatility Comparison
The current volatility for Grayscale Bitcoin Trust ETF (GBTC) is 11.69%, while Riot Platforms, Inc. (RIOT) has a volatility of 19.42%. This indicates that GBTC experiences smaller price fluctuations and is considered to be less risky than RIOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBTC | RIOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.69% | 19.42% | -7.73% |
Volatility (6M)Calculated over the trailing 6-month period | 34.91% | 61.60% | -26.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.36% | 84.30% | -39.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.84% | 93.75% | -31.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.44% | 112.21% | -30.77% |
Dividends
GBTC vs. RIOT - Dividend Comparison
Neither GBTC nor RIOT has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
RIOT Riot Platforms, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.52% |
Frequently Asked Questions
GBTC and RIOT have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RIOT has higher volatility (19.42%) compared to GBTC (11.69%). In terms of maximum drawdown, GBTC dropped -89.91% vs RIOT's -99.98%.
RIOT currently has the higher Sharpe Ratio (0.79 vs -1.02), 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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