SPOT vs. BTC-USD
SPOT (Spotify Technology S.A.) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, SPOT returned 14.62%/yr vs 9.74%/yr for BTC-USD. At a 0.15 correlation, their price movements are largely independent.
Performance
SPOT vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SPOT achieves a -17.00% return, which is significantly higher than BTC-USD's -26.27% return.
SPOT
- 1D
- -0.82%
- 1M
- 11.86%
- YTD
- -17.00%
- 6M
- -19.37%
- 1Y
- -31.42%
- 3Y*
- 47.06%
- 5Y*
- 14.62%
- 10Y*
- —
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
SPOT vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPOT Spotify Technology S.A. | -17.00% | 29.80% | 138.08% | 138.01% | -66.27% | -25.62% | 110.40% | 31.76% | -31.59% |
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -47.60% |
Correlation
The correlation between SPOT and BTC-USD is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018 | 0.15 |
The correlation between SPOT and BTC-USD shifts across timeframes, from 0.07 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPOT vs. BTC-USD — Risk / Return Rank
SPOT
BTC-USD
SPOT vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) and Bitcoin (BTC-USD). 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.
| SPOT | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.87 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | -0.77 | +0.09 |
| Martin ratioReturn relative to average drawdown | -1.16 | -1.33 | +0.18 |
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Drawdowns
SPOT vs. BTC-USD - Drawdown Comparison
The maximum SPOT drawdown since its inception was -80.51%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for SPOT and BTC-USD.
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Drawdown Indicators
| SPOT | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.51% | -85.30% | +4.79% |
Max Drawdown (1Y)Largest decline over 1 year | -46.80% | -51.21% | +4.41% |
Max Drawdown (3Y)Largest decline over 3 years | -46.80% | -51.21% | +4.41% |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | -76.67% | +0.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -37.88% | -48.27% | +10.39% |
Average DrawdownAverage peak-to-trough decline | -30.87% | -42.36% | +11.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.16% | 35.16% | -8.00% |
Volatility
SPOT vs. BTC-USD - Volatility Comparison
Spotify Technology S.A. (SPOT) has a higher volatility of 16.23% compared to Bitcoin (BTC-USD) at 11.97%. This indicates that SPOT's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPOT | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.23% | 11.97% | +4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 37.28% | 34.64% | +2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.28% | 35.59% | +9.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.58% | 44.57% | +3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.36% | 56.61% | -9.25% |
Frequently Asked Questions
SPOT and BTC-USD have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (16.23%) compared to BTC-USD (11.97%). In terms of maximum drawdown, SPOT dropped -80.51% vs BTC-USD's -85.30%.
SPOT currently has the higher Sharpe Ratio (-0.70 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.
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