GROY vs. BTG
GROY (Gold Royalty Corp.) and BTG (B2Gold Corp.) are both stocks. Both are in the Basic Materials sector — GROY in Other Precious Metals & Mining, BTG in Gold. Over the past 5 years, GROY returned -15.39%/yr vs 2.40%/yr for BTG. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
GROY vs. BTG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GROY achieves a -30.20% return, which is significantly lower than BTG's -10.30% return.
GROY
- 1D
- 0.71%
- 1M
- -10.19%
- YTD
- -30.20%
- 6M
- -32.86%
- 1Y
- 19.49%
- 3Y*
- 17.46%
- 5Y*
- -15.39%
- 10Y*
- —
BTG
- 1D
- -4.52%
- 1M
- -12.01%
- YTD
- -10.30%
- 6M
- -15.19%
- 1Y
- 11.24%
- 3Y*
- 8.00%
- 5Y*
- 2.40%
- 10Y*
- 7.81%
GROY vs. BTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GROY Gold Royalty Corp. | -30.20% | 233.88% | -17.69% | -36.27% | -51.98% | 9.33% |
BTG B2Gold Corp. | -10.30% | 88.95% | -18.07% | -7.22% | -5.13% | -7.87% |
Correlation
The correlation between GROY and BTG is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.53 |
The correlation between GROY and BTG shifts across timeframes, from 0.53 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
GROY:
$679.48M
BTG:
$6.02B
GROY:
-$0.01
BTG:
$0.36
GROY:
28.95
BTG:
1.66
GROY:
0.94
BTG:
1.63
GROY:
$19.65M
BTG:
$3.67B
GROY:
$14.42M
BTG:
$1.89B
GROY:
$9.22M
BTG:
$1.96B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GROY vs. BTG — Risk / Return Rank
GROY
BTG
GROY vs. BTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gold Royalty Corp. (GROY) and B2Gold Corp. (BTG). 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.
| GROY | BTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.08 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 0.31 | +0.10 |
| Martin ratioReturn relative to average drawdown | 0.96 | 0.59 | +0.37 |
Loading charts...
Drawdowns
GROY vs. BTG - Drawdown Comparison
The maximum GROY drawdown since its inception was -82.01%, roughly equal to the maximum BTG drawdown of -85.97%. Use the drawdown chart below to compare losses from any high point for GROY and BTG.
Loading charts...
Drawdown Indicators
| GROY | BTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.01% | -85.97% | +3.96% |
Max Drawdown (1Y)Largest decline over 1 year | -48.18% | -36.97% | -11.21% |
Max Drawdown (3Y)Largest decline over 3 years | -48.18% | -36.97% | -11.21% |
Max Drawdown (5Y)Largest decline over 5 years | -79.99% | -48.92% | -31.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.35% | — |
Current DrawdownCurrent decline from peak | -56.63% | -34.85% | -21.78% |
Average DrawdownAverage peak-to-trough decline | -55.80% | -38.33% | -17.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.45% | 19.18% | +1.27% |
Volatility
GROY vs. BTG - Volatility Comparison
Gold Royalty Corp. (GROY) and B2Gold Corp. (BTG) have volatilities of 16.40% and 16.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GROY | BTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.40% | 16.97% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 38.13% | 45.38% | -7.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.28% | 56.10% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.54% | 44.89% | +12.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.20% | 48.20% | +12.00% |
Dividends
GROY vs. BTG - Dividend Comparison
GROY has not paid dividends to shareholders, while BTG's dividend yield for the trailing twelve months is around 2.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BTG B2Gold Corp. | 2.00% | 1.77% | 6.56% | 5.06% | 4.48% | 4.07% | 1.96% | 0.25% |
GROY Gold Royalty Corp. | 0.00% | 0.00% | 0.00% | 1.36% | 1.72% | 0.00% | 0.00% | 0.00% |
Financials
GROY vs. BTG - Financials Comparison
This section allows you to compare key financial metrics between Gold Royalty Corp. and B2Gold Corp.. 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
GROY vs. BTG - Profitability Comparison
GROY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Gold Royalty Corp. reported a gross profit of 5.48M and revenue of 7.18M. Therefore, the gross margin over that period was 76.3%.
BTG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, B2Gold Corp. reported a gross profit of 601.32M and revenue of 1.14B. Therefore, the gross margin over that period was 52.6%.
GROY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Gold Royalty Corp. reported an operating income of 2.64M and revenue of 7.18M, resulting in an operating margin of 36.7%.
BTG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, B2Gold Corp. reported an operating income of 572.52M and revenue of 1.14B, resulting in an operating margin of 50.1%.
GROY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Gold Royalty Corp. reported a net income of 1.77M and revenue of 7.18M, resulting in a net margin of 24.7%.
BTG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, B2Gold Corp. reported a net income of 197.17M and revenue of 1.14B, resulting in a net margin of 17.3%.
Frequently Asked Questions
GROY and BTG have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTG has higher volatility (16.97%) compared to GROY (16.40%). In terms of maximum drawdown, GROY dropped -82.01% vs BTG's -85.97%.
GROY currently has the higher Sharpe Ratio (0.35 vs 0.20), 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.
Find the right allocation for GROY and BTG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer