RIOT vs. BTDR

Last updated Jul 28, 2026

RIOT (Riot Platforms, Inc.) 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, RIOT returned 6.13%/yr vs 3.63%/yr for BTDR. Their 0.58 correlation means they have sometimes moved together and sometimes differently.

Performance

RIOT vs. BTDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Riot Platforms, Inc. (RIOT) 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, RIOT achieves a 73.40% return, which is significantly higher than BTDR's 1.25% return.

RIOT

• 1D: -2.49%
• 1M: -23.10%
• 6M: 35.37%
• YTD: 73.40%
• 1Y: 51.10%
• 3Y*: 6.13%
• 5Y*: -7.79%
• 10Y*: 22.01%
• ALL TIME*: -12.77%

BTDR

• 1D: -1.82%
• 1M: -33.82%
• 6M: -18.35%
• YTD: 1.25%
• 1Y: -22.47%
• 3Y*: 3.63%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.35%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BTDR Bitdeer Technologies Group Class A Ordinary Shares	$77.44M	$112.46M	$147.99M
RIOT Riot Platforms, Inc.	$380.85M	$380.03M	$413.09M

RIOT vs. BTDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RIOT Riot Platforms, Inc.	73.40%	24.09%	-34.00%	25.26%
BTDR Bitdeer Technologies Group Class A Ordinary Shares	1.25%	-48.27%	119.78%	20.10%

Correlation

The correlation between RIOT and BTDR is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (All Time) Calculated using the full available price history since Apr 13, 2023	0.58

The correlation between RIOT and BTDR has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.

Fundamentals

Market Cap RIOT : $8.31B BTDR : $2.65B
EPS RIOT : -$2.38 BTDR : -$2.13
PS Ratio RIOT : 12.24 BTDR : 3.64
PB Ratio RIOT : 3.19 BTDR : 3.63
Total Revenue (TTM) RIOT : $653.27M BTDR : $739.06M
Gross Profit (TTM) RIOT : $179.76M BTDR : $25.18M
EBITDA (TTM) RIOT : -$482.33M BTDR : $59.65M

Return for Risk

RIOT vs. BTDR — Risk / Return Rank

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

RIOT

RIOT Risk / Return Rank: 68
RIOT Sharpe Ratio Rank: 67
RIOT Sortino Ratio Rank: 69
RIOT Omega Ratio Rank: 66
RIOT Calmar Ratio Rank: 69
RIOT Martin Ratio Rank: 67

BTDR

BTDR Risk / Return Rank: 40
BTDR Sharpe Ratio Rank: 37
BTDR Sortino Ratio Rank: 46
BTDR Omega Ratio Rank: 44
BTDR Calmar Ratio Rank: 36
BTDR Martin Ratio Rank: 38

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.

RIOT vs. BTDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Riot Platforms, Inc. (RIOT) 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.

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.

	RIOT	BTDR	Difference
Sharpe ratio: Return per unit of total volatility	0.60	-0.22	+0.82
Sortino ratio: Return per unit of downside risk	1.38	0.38	+0.99
Omega ratio: Gain probability vs. loss probability	1.16	1.04	+0.12
Calmar ratio: Return relative to maximum drawdown	1.06	-0.31	+1.37
Martin ratio: Return relative to average drawdown	2.02	-0.50	+2.51

RIOT vs. BTDR - Sharpe Ratio Comparison

The current RIOT Sharpe Ratio is 0.60, which is higher than the BTDR Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of RIOT 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.

Drawdowns

RIOT vs. BTDR - Drawdown Comparison

The maximum RIOT drawdown since its inception was -99.98%, which is greater than BTDR's maximum drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for RIOT and BTDR.

Drawdown Indicators

	RIOT	BTDR	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-79.52%	-20.46%
Max Drawdown (1Y) Largest decline over 1 year	-48.57%	-71.89%	+23.32%
Max Drawdown (3Y) Largest decline over 3 years	-66.22%	-79.52%	+13.30%
Max Drawdown (5Y) Largest decline over 5 years	-92.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.32%	—	—
Current Drawdown Current decline from peak	-99.31%	-56.51%	-42.80%
Average Drawdown Average peak-to-trough decline	-87.89%	-43.66%	-44.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.42%	45.33%	-19.91%

Volatility

RIOT vs. BTDR - Volatility Comparison

The current volatility for Riot Platforms, Inc. (RIOT) is 25.74%, while Bitdeer Technologies Group Class A Ordinary Shares (BTDR) has a volatility of 30.39%. This indicates that RIOT 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

	RIOT	BTDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.74%	30.39%	-4.65%
Volatility (6M) Calculated over the trailing 6-month period	61.43%	70.75%	-9.32%
Volatility (1Y) Calculated over the trailing 1-year period	85.81%	102.49%	-16.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	93.34%	122.40%	-29.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	112.35%	122.40%	-10.05%

Dividends

RIOT vs. BTDR - Dividend Comparison

Neither RIOT nor BTDR has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTDR Bitdeer Technologies Group Class A Ordinary Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RIOT Riot Platforms, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.52%

Financials

Frequently Asked Questions

Can I hold both RIOT and BTDR in my portfolio?

RIOT and BTDR have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RIOT or BTDR?

BTDR has higher volatility (30.39%) compared to RIOT (25.74%). In terms of maximum drawdown, RIOT dropped -99.98% vs BTDR's -79.52%.

Which has better risk-adjusted returns?

RIOT currently has the higher Sharpe Ratio (0.60 vs -0.22), 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.