IBIT vs. ELVA
IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while ELVA (Electrovaya Inc. Common Shares) is a stock. Over the past year, IBIT returned -39.67% vs 181.07% for ELVA. At a 0.18 correlation, their price movements are largely independent.
Performance
IBIT vs. ELVA - 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 ELVA's 20.25% return.
IBIT
- 1D
- -0.03%
- 1M
- -19.59%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ELVA
- 1D
- -3.16%
- 1M
- -0.52%
- YTD
- 20.25%
- 6M
- 43.50%
- 1Y
- 181.07%
- 3Y*
- 37.56%
- 5Y*
- 9.63%
- 10Y*
- 2.89%
IBIT vs. ELVA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
ELVA Electrovaya Inc. Common Shares | 20.25% | 218.55% | -37.53% |
Correlation
The correlation between IBIT and ELVA is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.19 |
The correlation between IBIT and ELVA shifts across timeframes, from 0.18 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBIT vs. ELVA — Risk / Return Rank
IBIT
ELVA
IBIT vs. ELVA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and Electrovaya Inc. Common Shares (ELVA). 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 | ELVA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.93 | ||
| Sortino ratioReturn per unit of downside risk | -3.94 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.32 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 3.80 | -4.58 |
| Martin ratioReturn relative to average drawdown | -1.37 | 9.01 | -10.38 |
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Drawdowns
IBIT vs. ELVA - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum ELVA drawdown of -96.90%. Use the drawdown chart below to compare losses from any high point for IBIT and ELVA.
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Drawdown Indicators
| IBIT | ELVA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -96.90% | +44.79% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -44.42% | -7.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -64.19% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -66.78% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -96.90% | — |
Current DrawdownCurrent decline from peak | -49.45% | -41.01% | -8.44% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -73.62% | +57.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 18.71% | +10.93% |
Volatility
IBIT vs. ELVA - Volatility Comparison
The current volatility for iShares Bitcoin Trust ETF (IBIT) is 12.07%, while Electrovaya Inc. Common Shares (ELVA) has a volatility of 27.27%. This indicates that IBIT experiences smaller price fluctuations and is considered to be less risky than ELVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | ELVA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 27.27% | -15.20% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 63.77% | -29.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 84.18% | -40.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 69.12% | -18.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 86.10% | -35.84% |
Dividends
IBIT vs. ELVA - Dividend Comparison
Neither IBIT nor ELVA has paid dividends to shareholders.
Frequently Asked Questions
IBIT and ELVA have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELVA has higher volatility (27.27%) compared to IBIT (12.07%). In terms of maximum drawdown, IBIT dropped -52.11% vs ELVA's -96.90%.
ELVA currently has the higher Sharpe Ratio (2.00 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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