IBIT vs. COIN
IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while COIN (Coinbase Global, Inc.) is a stock. Over the past year, IBIT returned -40.63% vs -33.71% for COIN. A 0.73 correlation means they provide meaningful diversification when combined.
Performance
IBIT vs. COIN - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -27.41% return, which is significantly higher than COIN's -29.34% return.
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COIN
- 1D
- -0.41%
- 1M
- -20.82%
- YTD
- -29.34%
- 6M
- -40.26%
- 1Y
- -33.71%
- 3Y*
- 45.01%
- 5Y*
- -6.53%
- 10Y*
- —
IBIT vs. COIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
COIN Coinbase Global, Inc. | -29.34% | -8.92% | 64.12% |
Correlation
The correlation between IBIT and COIN is 0.75, 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 | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.73 |
The correlation between IBIT and COIN has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.
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Return for Risk
IBIT vs. COIN — Risk / Return Rank
IBIT
COIN
IBIT vs. COIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and Coinbase Global, Inc. (COIN). 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.
| IBIT | COIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.96 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.51 | -0.27 |
| Martin ratioReturn relative to average drawdown | -1.37 | -0.82 | -0.55 |
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Drawdowns
IBIT vs. COIN - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum COIN drawdown of -91.46%. Use the drawdown chart below to compare losses from any high point for IBIT and COIN.
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Drawdown Indicators
| IBIT | COIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -91.46% | +39.35% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -66.39% | +14.28% |
Max Drawdown (3Y)Largest decline over 3 years | — | -66.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.90% | — |
Current DrawdownCurrent decline from peak | -49.45% | -61.94% | +12.49% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -52.60% | +36.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 41.01% | -11.37% |
Volatility
IBIT vs. COIN - Volatility Comparison
The current volatility for iShares Bitcoin Trust ETF (IBIT) is 12.07%, while Coinbase Global, Inc. (COIN) has a volatility of 19.52%. This indicates that IBIT experiences smaller price fluctuations and is considered to be less risky than COIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | COIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 19.52% | -7.45% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 51.84% | -17.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 70.66% | -26.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 85.93% | -35.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 85.49% | -35.23% |
Dividends
IBIT vs. COIN - Dividend Comparison
Neither IBIT nor COIN has paid dividends to shareholders.
Frequently Asked Questions
IBIT and COIN have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COIN has higher volatility (19.52%) compared to IBIT (12.07%). In terms of maximum drawdown, IBIT dropped -52.11% vs COIN's -91.46%.
COIN currently has the higher Sharpe Ratio (-0.48 vs -0.92), 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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