SES vs. BTM

Last updated Jun 4, 2026

SES (SES AI Corp) and BTM (Bitcoin Depot Inc.) are both stocks. SES operates in Auto Parts (Consumer Cyclical), while BTM operates in Capital Markets (Financial Services). Over the past year, SES returned 45.31% vs -98.47% for BTM. At a 0.15 correlation, their price movements are largely independent.

Performance

SES vs. BTM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SES AI Corp (SES) and Bitcoin Depot Inc. (BTM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SES achieves a -26.11% return, which is significantly higher than BTM's -94.55% return.

SES

• 1D: -7.64%
• 1M: 29.13%
• YTD: -26.11%
• 6M: -33.50%
• 1Y: 45.31%
• 3Y*: -11.05%
• 5Y*: -33.20%
• 10Y*: —

BTM

• 1D: 0.00%
• 1M: -92.39%
• YTD: -94.55%
• 6M: -95.09%
• 1Y: -98.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SES vs. BTM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SES SES AI Corp	-26.11%	-17.81%	19.67%	-25.31%
BTM Bitcoin Depot Inc.	-94.55%	-20.37%	-49.85%	-10.53%

Correlation

The correlation between SES and BTM is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jul 5, 2023	0.15

The correlation between SES and BTM shifts across timeframes, from 0.15 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

EPS SES : -$0.22 BTM : -$0.26
PS Ratio SES : 20.13 BTM : 0.03
Total Revenue (TTM) SES : $21.92M BTM : $614.85M
Gross Profit (TTM) SES : $7.97M BTM : $113.30M
EBITDA (TTM) SES : -$68.11M BTM : $29.63M

Return for Risk

SES vs. BTM — Risk / Return Rank

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

SES

SES Risk / Return Rank: 57
SES Sharpe Ratio Rank: 56
SES Sortino Ratio Rank: 61
SES Omega Ratio Rank: 61
SES Calmar Ratio Rank: 54
SES Martin Ratio Rank: 52

BTM

BTM Risk / Return Rank: 5
BTM Sharpe Ratio Rank: 13
BTM Sortino Ratio Rank: 1
BTM Omega Ratio Rank: 1
BTM Calmar Ratio Rank: 1
BTM Martin Ratio Rank: 7

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.

SES vs. BTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SES AI Corp (SES) and Bitcoin Depot Inc. (BTM). 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.

	SES	BTM	Difference
Sharpe ratio: Return per unit of total volatility	0.43	-0.66	+1.09
Sortino ratio: Return per unit of downside risk	1.34	-2.32	+3.66
Omega ratio: Gain probability vs. loss probability	1.17	0.67	+0.50
Calmar ratio: Return relative to maximum drawdown	0.61	-1.00	+1.61
Martin ratio: Return relative to average drawdown	1.03	-1.43	+2.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SES vs. BTM - Sharpe Ratio Comparison

The current SES Sharpe Ratio is 0.43, which is higher than the BTM Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of SES and BTM, 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

	SES	BTM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	-0.66	+1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.29	-0.63	+0.33

Drawdowns

SES vs. BTM - Drawdown Comparison

The maximum SES drawdown since its inception was -97.58%, roughly equal to the maximum BTM drawdown of -98.92%. Use the drawdown chart below to compare losses from any high point for SES and BTM.

Drawdown Indicators

	SES	BTM	Difference
Max Drawdown Largest peak-to-trough decline	-97.58%	-98.92%	+1.34%
Max Drawdown (1Y) Largest decline over 1 year	-74.08%	-98.92%	+24.84%
Max Drawdown (3Y) Largest decline over 3 years	-91.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-97.58%	—	—
Current Drawdown Current decline from peak	-88.06%	-98.92%	+10.86%
Average Drawdown Average peak-to-trough decline	-65.68%	-55.17%	-10.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.97%	68.92%	-24.95%

Volatility

SES vs. BTM - Volatility Comparison

The current volatility for SES AI Corp (SES) is 25.51%, while Bitcoin Depot Inc. (BTM) has a volatility of 145.72%. This indicates that SES experiences smaller price fluctuations and is considered to be less risky than BTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SES	BTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.51%	145.72%	-120.21%
Volatility (6M) Calculated over the trailing 6-month period	77.46%	173.22%	-95.76%
Volatility (1Y) Calculated over the trailing 1-year period	107.58%	149.15%	-41.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	114.41%	118.46%	-4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	111.58%	118.46%	-6.88%

Dividends

SES vs. BTM - Dividend Comparison

Neither SES nor BTM has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both SES and BTM in my portfolio?

SES and BTM have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SES or BTM?

BTM has higher volatility (145.72%) compared to SES (25.51%). In terms of maximum drawdown, SES dropped -97.58% vs BTM's -98.92%.

Which has better risk-adjusted returns?

SES currently has the higher Sharpe Ratio (0.43 vs -0.66), 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.