SPOT vs. FBTC
SPOT (Spotify Technology S.A.) is a stock, while FBTC (Fidelity Wise Origin Bitcoin Fund) is Cryptocurrency fund tracking the Fidelity Bitcoin Reference Rate. Over the past year, SPOT returned -29.36% vs -39.41% for FBTC. At a 0.16 correlation, their price movements are largely independent.
Performance
SPOT vs. FBTC - Performance Comparison
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Returns By Period
In the year-to-date period, SPOT achieves a -13.36% return, which is significantly higher than FBTC's -27.63% return.
SPOT
- 1D
- 1.24%
- 1M
- 20.42%
- YTD
- -13.36%
- 6M
- -12.09%
- 1Y
- -29.36%
- 3Y*
- 49.53%
- 5Y*
- 16.18%
- 10Y*
- —
FBTC
- 1D
- 5.17%
- 1M
- -20.97%
- YTD
- -27.63%
- 6M
- -30.29%
- 1Y
- -39.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPOT vs. FBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPOT Spotify Technology S.A. | -13.36% | 29.80% | 122.78% |
FBTC Fidelity Wise Origin Bitcoin Fund | -27.63% | -6.56% | 99.56% |
Correlation
The correlation between SPOT and FBTC is 0.10, 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 | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.16 |
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Return for Risk
SPOT vs. FBTC — Risk / Return Rank
SPOT
FBTC
SPOT vs. FBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) and Fidelity Wise Origin Bitcoin Fund (FBTC). 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.
| SPOT | FBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.86 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | -0.76 | +0.13 |
| Martin ratioReturn relative to average drawdown | -1.10 | -1.36 | +0.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPOT | FBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.65 | -0.90 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.27 | +0.07 |
Drawdowns
SPOT vs. FBTC - Drawdown Comparison
The maximum SPOT drawdown since its inception was -80.51%, which is greater than FBTC's maximum drawdown of -52.07%. Use the drawdown chart below to compare losses from any high point for SPOT and FBTC.
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Drawdown Indicators
| SPOT | FBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.51% | -52.07% | -28.44% |
Max Drawdown (1Y)Largest decline over 1 year | -46.80% | -52.07% | +5.27% |
Max Drawdown (3Y)Largest decline over 3 years | -46.80% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | — | — |
Current DrawdownCurrent decline from peak | -35.16% | -49.59% | +14.43% |
Average DrawdownAverage peak-to-trough decline | -30.81% | -16.18% | -14.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.76% | 28.93% | -2.17% |
Volatility
SPOT vs. FBTC - Volatility Comparison
Spotify Technology S.A. (SPOT) has a higher volatility of 15.97% compared to Fidelity Wise Origin Bitcoin Fund (FBTC) at 11.77%. This indicates that SPOT's price experiences larger fluctuations and is considered to be riskier than FBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPOT | FBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.97% | 11.77% | +4.20% |
Volatility (6M)Calculated over the trailing 6-month period | 37.40% | 34.55% | +2.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.30% | 44.17% | +1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.60% | 50.26% | -2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.26% | 50.26% | -3.00% |
Dividends
SPOT vs. FBTC - Dividend Comparison
Neither SPOT nor FBTC has paid dividends to shareholders.
Frequently Asked Questions
SPOT and FBTC have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (15.97%) compared to FBTC (11.77%). In terms of maximum drawdown, SPOT dropped -80.51% vs FBTC's -52.07%.
SPOT currently has the higher Sharpe Ratio (-0.65 vs -0.90), 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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