IBIT vs. CP
IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while CP (Canadian Pacific Railway Limited) is a stock. Over the past year, IBIT returned -40.63% vs 11.97% for CP. At a 0.18 correlation, their price movements are largely independent.
Performance
IBIT vs. CP - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -27.41% return, which is significantly lower than CP's 22.60% return.
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CP
- 1D
- 0.86%
- 1M
- 5.18%
- YTD
- 22.60%
- 6M
- 20.36%
- 1Y
- 11.97%
- 3Y*
- 6.19%
- 5Y*
- 3.16%
- 10Y*
- 14.53%
IBIT vs. CP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
CP Canadian Pacific Railway Limited | 22.60% | 2.60% | -7.66% |
Correlation
The correlation between IBIT and CP is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.18 |
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Return for Risk
IBIT vs. CP — Risk / Return Rank
IBIT
CP
IBIT vs. CP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and Canadian Pacific Railway Limited (CP). 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 | CP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.11 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 0.74 | -1.52 |
| Martin ratioReturn relative to average drawdown | -1.37 | 1.41 | -2.78 |
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Drawdowns
IBIT vs. CP - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum CP drawdown of -69.17%. Use the drawdown chart below to compare losses from any high point for IBIT and CP.
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Drawdown Indicators
| IBIT | CP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -69.17% | +17.06% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -16.23% | -35.88% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.70% | — |
Current DrawdownCurrent decline from peak | -49.45% | -1.29% | -48.16% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -20.29% | +3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 8.50% | +21.14% |
Volatility
IBIT vs. CP - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 12.07% compared to Canadian Pacific Railway Limited (CP) at 5.88%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than CP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | CP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 5.88% | +6.19% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 17.25% | +17.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 22.48% | +21.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 24.45% | +25.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 25.60% | +24.66% |
Dividends
IBIT vs. CP - Dividend Comparison
IBIT has not paid dividends to shareholders, while CP's dividend yield for the trailing twelve months is around 0.74%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CP Canadian Pacific Railway Limited | 0.74% | 0.86% | 0.76% | 0.78% | 0.96% | 0.84% | 0.76% | 0.93% | 1.07% | 0.92% | 0.98% | 0.98% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBIT and CP have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to CP (5.88%). In terms of maximum drawdown, IBIT dropped -52.11% vs CP's -69.17%.
CP currently has the higher Sharpe Ratio (0.53 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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