KARO vs. BTDR

Last updated Jun 3, 2026

KARO (Karooooo Ltd.) and BTDR (Bitdeer Technologies Group Class A Ordinary Shares) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 3 years, KARO returned 32.88%/yr vs 56.97%/yr for BTDR. At a 0.16 correlation, their price movements are largely independent.

Performance

KARO vs. BTDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Karooooo Ltd. (KARO) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KARO achieves a 9.05% return, which is significantly lower than BTDR's 67.35% return.

KARO

• 1D: -1.51%
• 1M: -1.55%
• YTD: 9.05%
• 6M: 7.50%
• 1Y: -7.80%
• 3Y*: 32.88%
• 5Y*: 8.11%
• 10Y*: —

BTDR

• 1D: 1.35%
• 1M: 58.45%
• YTD: 67.35%
• 6M: 50.08%
• 1Y: 47.02%
• 3Y*: 56.97%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

KARO vs. BTDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KARO Karooooo Ltd.	9.05%	3.48%	91.47%	13.87%
BTDR Bitdeer Technologies Group Class A Ordinary Shares	67.35%	-48.27%	119.78%	-1.40%

Correlation

The correlation between KARO and BTDR is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023	0.16

Fundamentals

Market Cap KARO : $1.53B BTDR : $4.38B
EPS KARO : $31.92 BTDR : -$2.23
PS Ratio KARO : 0.28 BTDR : 5.74
PB Ratio KARO : 0.46 BTDR : 6.00
Total Revenue (TTM) KARO : $5.43B BTDR : $739.06M
Gross Profit (TTM) KARO : $3.70B BTDR : $25.18M
EBITDA (TTM) KARO : $2.27B BTDR : $59.65M

Return for Risk

KARO vs. BTDR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KARO

KARO Risk / Return Rank: 33
KARO Sharpe Ratio Rank: 33
KARO Sortino Ratio Rank: 32
KARO Omega Ratio Rank: 32
KARO Calmar Ratio Rank: 32
KARO Martin Ratio Rank: 34

BTDR

BTDR Risk / Return Rank: 57
BTDR Sharpe Ratio Rank: 57
BTDR Sortino Ratio Rank: 62
BTDR Omega Ratio Rank: 58
BTDR Calmar Ratio Rank: 55
BTDR Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KARO vs. BTDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Karooooo Ltd. (KARO) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). 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.

	KARO	BTDR	Difference
Sharpe ratio Return per unit of total volatility	-0.16	0.47	-0.64
Sortino ratio Return per unit of downside risk	0.10	1.36	-1.26
Omega ratio Gain probability vs. loss probability	1.01	1.16	-0.15
Calmar ratio Return relative to maximum drawdown	-0.25	0.64	-0.89
Martin ratio Return relative to average drawdown	-0.37	1.08	-1.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KARO vs. BTDR - Sharpe Ratio Comparison

The current KARO Sharpe Ratio is -0.16, which is lower than the BTDR Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of KARO and BTDR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KARO	BTDR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.16	0.47	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.18	0.00

Drawdowns

KARO vs. BTDR - Drawdown Comparison

The maximum KARO drawdown since its inception was -52.12%, smaller than the maximum BTDR drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for KARO and BTDR.

Drawdown Indicators

	KARO	BTDR	Difference
Max Drawdown Largest peak-to-trough decline	-52.12%	-79.52%	+27.40%
Max Drawdown (1Y) Largest decline over 1 year	-32.31%	-71.89%	+39.58%
Max Drawdown (3Y) Largest decline over 3 years	-32.31%	-79.52%	+47.21%
Max Drawdown (5Y) Largest decline over 5 years	-51.66%	—	—
Current Drawdown Current decline from peak	-19.26%	-28.12%	+8.86%
Average Drawdown Average peak-to-trough decline	-25.04%	-43.80%	+18.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.90%	42.62%	-20.72%

Volatility

KARO vs. BTDR - Volatility Comparison

The current volatility for Karooooo Ltd. (KARO) is 11.26%, while Bitdeer Technologies Group Class A Ordinary Shares (BTDR) has a volatility of 34.24%. This indicates that KARO experiences smaller price fluctuations and is considered to be less risky than BTDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KARO	BTDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.26%	34.24%	-22.98%
Volatility (6M) Calculated over the trailing 6-month period	26.30%	67.49%	-41.19%
Volatility (1Y) Calculated over the trailing 1-year period	47.55%	99.89%	-52.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.98%	122.94%	-68.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.74%	122.94%	-68.20%

Dividends

KARO vs. BTDR - Dividend Comparison

KARO's dividend yield for the trailing twelve months is around 2.52%, while BTDR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BTDR Bitdeer Technologies Group Class A Ordinary Shares	0.00%	0.00%	0.00%	0.00%	0.00%
KARO Karooooo Ltd.	2.52%	2.75%	2.39%	3.50%	2.58%

Financials

KARO vs. BTDR - Profitability Comparison

The chart below illustrates the profitability comparison between Karooooo Ltd. and Bitdeer Technologies Group Class A Ordinary Shares over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

KARO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Karooooo Ltd. reported a gross profit of 939.35M and revenue of 1.42B. Therefore, the gross margin over that period was 66.3%.

BTDR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Bitdeer Technologies Group Class A Ordinary Shares reported a gross profit of -39.04M and revenue of 188.93M. Therefore, the gross margin over that period was -20.7%.

KARO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Karooooo Ltd. reported an operating income of 329.18M and revenue of 1.42B, resulting in an operating margin of 23.2%.

BTDR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Bitdeer Technologies Group Class A Ordinary Shares reported an operating income of -86.73M and revenue of 188.93M, resulting in an operating margin of -45.9%.

KARO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Karooooo Ltd. reported a net income of 217.46M and revenue of 1.42B, resulting in a net margin of 15.3%.

BTDR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Bitdeer Technologies Group Class A Ordinary Shares reported a net income of -159.53M and revenue of 188.93M, resulting in a net margin of -84.4%.

Frequently Asked Questions

Can I hold both KARO and BTDR in my portfolio?

KARO and BTDR have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KARO or BTDR?

BTDR has higher volatility (34.24%) compared to KARO (11.26%). In terms of maximum drawdown, KARO dropped -52.12% vs BTDR's -79.52%.

Which has better risk-adjusted returns?

BTDR currently has the higher Sharpe Ratio (0.47 vs -0.16), 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.