SHOP vs. SLV
SHOP (Shopify Inc.) is a stock, while SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price. Over the past 10 years, SHOP returned 43.59%/yr vs 13.99%/yr for SLV. At a 0.11 correlation, their price movements are largely independent.
Performance
SHOP vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, SHOP achieves a -32.76% return, which is significantly lower than SLV's -4.86% return. Over the past 10 years, SHOP has outperformed SLV with an annualized return of 43.59%, while SLV has yielded a comparatively lower 13.99% annualized 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%
SLV
- 1D
- 0.77%
- 1M
- -22.76%
- YTD
- -4.86%
- 6M
- 9.25%
- 1Y
- 85.39%
- 3Y*
- 41.27%
- 5Y*
- 18.83%
- 10Y*
- 13.99%
SHOP vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHOP Shopify Inc. | -32.76% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
SLV iShares Silver Trust | -4.86% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between SHOP and SLV is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 21, 2015 | 0.11 |
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Return for Risk
SHOP vs. SLV — Risk / Return Rank
SHOP
SLV
SHOP vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shopify Inc. (SHOP) and iShares Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.29 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.89 | -1.91 |
| Martin ratioReturn relative to average drawdown | -0.04 | 4.10 | -4.14 |
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Drawdowns
SHOP vs. SLV - Drawdown Comparison
The maximum SHOP drawdown since its inception was -84.82%, which is greater than SLV's maximum drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for SHOP and SLV.
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Drawdown Indicators
| SHOP | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.82% | -76.28% | -8.54% |
Max Drawdown (1Y)Largest decline over 1 year | -46.71% | -45.40% | -1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -46.71% | -45.40% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -84.82% | -45.40% | -39.42% |
Max Drawdown (10Y)Largest decline over 10 years | -84.82% | -45.40% | -39.42% |
Current DrawdownCurrent decline from peak | -39.53% | -41.96% | +2.43% |
Average DrawdownAverage peak-to-trough decline | -28.23% | -44.66% | +16.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.27% | 20.88% | +1.39% |
Volatility
SHOP vs. SLV - Volatility Comparison
The current volatility for Shopify Inc. (SHOP) is 15.38%, while iShares Silver Trust (SLV) has a volatility of 16.34%. This indicates that SHOP experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHOP | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.38% | 16.34% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 43.41% | 59.10% | -15.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.03% | 59.82% | -2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.55% | 36.46% | +29.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.07% | 32.00% | +27.07% |
Dividends
SHOP vs. SLV - Dividend Comparison
Neither SHOP nor SLV has paid dividends to shareholders.
Frequently Asked Questions
SHOP and SLV have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (16.34%) compared to SHOP (15.38%). In terms of maximum drawdown, SHOP dropped -84.82% vs SLV's -76.28%.
SLV currently has the higher Sharpe Ratio (1.44 vs -0.02), 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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