IBIT vs. SHOP
IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while SHOP (Shopify Inc.) is a stock. Over the past year, IBIT returned -40.63% vs -0.89% for SHOP. At a 0.33 correlation, their price movements are largely independent.
Performance
IBIT vs. SHOP - 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 SHOP's -32.76% return.
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHOP
- 1D
- -2.02%
- 1M
- 13.46%
- YTD
- -32.76%
- 6M
- -34.08%
- 1Y
- -0.89%
- 3Y*
- 19.24%
- 5Y*
- -2.79%
- 10Y*
- 43.59%
IBIT vs. SHOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
SHOP Shopify Inc. | -32.76% | 51.39% | 31.11% |
Correlation
The correlation between IBIT and SHOP is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.33 |
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Return for Risk
IBIT vs. SHOP — Risk / Return Rank
IBIT
SHOP
IBIT vs. SHOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and Shopify Inc. (SHOP). 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 | SHOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.05 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.02 | -0.76 |
| Martin ratioReturn relative to average drawdown | -1.37 | -0.04 | -1.33 |
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Drawdowns
IBIT vs. SHOP - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum SHOP drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for IBIT and SHOP.
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Drawdown Indicators
| IBIT | SHOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -84.82% | +32.71% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -46.71% | -5.40% |
Max Drawdown (3Y)Largest decline over 3 years | — | -46.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.82% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -84.82% | — |
Current DrawdownCurrent decline from peak | -49.45% | -39.53% | -9.92% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -28.23% | +11.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 22.27% | +7.37% |
Volatility
IBIT vs. SHOP - Volatility Comparison
The current volatility for iShares Bitcoin Trust ETF (IBIT) is 12.07%, while Shopify Inc. (SHOP) has a volatility of 15.38%. This indicates that IBIT experiences smaller price fluctuations and is considered to be less risky than SHOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | SHOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 15.38% | -3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 43.41% | -8.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 57.03% | -12.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 65.55% | -15.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 59.07% | -8.81% |
Dividends
IBIT vs. SHOP - Dividend Comparison
Neither IBIT nor SHOP has paid dividends to shareholders.
Frequently Asked Questions
IBIT and SHOP have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHOP has higher volatility (15.38%) compared to IBIT (12.07%). In terms of maximum drawdown, IBIT dropped -52.11% vs SHOP's -84.82%.
SHOP currently has the higher Sharpe Ratio (-0.02 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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