SHOP vs. IBIT
SHOP (Shopify Inc.) is a stock, while IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Over the past year, SHOP returned -0.89% vs -40.63% for IBIT. At a 0.33 correlation, their price movements are largely independent.
Performance
SHOP vs. IBIT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SHOP achieves a -32.76% return, which is significantly lower than IBIT's -27.41% return.
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
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHOP vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SHOP Shopify Inc. | -32.76% | 51.39% | 31.11% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between SHOP and IBIT 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 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SHOP vs. IBIT — Risk / Return Rank
SHOP
IBIT
SHOP vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shopify Inc. (SHOP) and iShares Bitcoin Trust ETF (IBIT). 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.
| SHOP | IBIT | 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 | 1.05 | 0.85 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | -0.78 | +0.76 |
| Martin ratioReturn relative to average drawdown | -0.04 | -1.37 | +1.33 |
Loading charts...
Drawdowns
SHOP vs. IBIT - Drawdown Comparison
The maximum SHOP drawdown since its inception was -84.82%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for SHOP and IBIT.
Loading charts...
Drawdown Indicators
| SHOP | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.82% | -52.11% | -32.71% |
Max Drawdown (1Y)Largest decline over 1 year | -46.71% | -52.11% | +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 | -39.53% | -49.45% | +9.92% |
Average DrawdownAverage peak-to-trough decline | -28.23% | -16.53% | -11.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.27% | 29.64% | -7.37% |
Volatility
SHOP vs. IBIT - Volatility Comparison
Shopify Inc. (SHOP) has a higher volatility of 15.38% compared to iShares Bitcoin Trust ETF (IBIT) at 12.07%. This indicates that SHOP's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SHOP | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.38% | 12.07% | +3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 43.41% | 34.45% | +8.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.03% | 44.10% | +12.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.55% | 50.26% | +15.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.07% | 50.26% | +8.81% |
Dividends
SHOP vs. IBIT - Dividend Comparison
Neither SHOP nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
SHOP and IBIT 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, SHOP dropped -84.82% vs IBIT's -52.11%.
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.
Find the right allocation for SHOP and IBIT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer