# How Coinbase Global (COIN) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/coin
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on COIN alone. It places COIN (Coinbase Global, Inc.) against 19 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where COIN stands in the market, and of the alternatives worth a closer look.

Period covered: COIN's full trading record, from April 2021 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** COIN has gone against the market, falling 19.3% over the past 6 months while the S&P 500 rose 9.1%. COIN is 59.3% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record.
- **Stock or market?:** COIN held up far better than its industry: it rose 6.5% over the past 3 months while the cryptocurrency exchanges ETF BITQ (Bitwise Crypto Industry Innovators ETF) fell 8.7%. The S&P 500 rose 3.9%. Its cryptocurrency exchange peers did not move as one over the past 3 months: CRCL (Circle Internet Group) rose 31.2%, while SCHW (Charles Schwab) fell 11.1%.
- **Past 1 to 3 years:** Over the past year, COIN fell 50.3% while the S&P 500 rose 15.8%. On the flip side, the past 3 years (ahead of 76% of the stocks worth at least $300 million) have been far stronger than the record over 5 years (behind 81% of them).
- **Long term:** COIN turned $10,000 into $5,430 over the past 5 years, against $18,200 in the S&P 500. COIN's 5-year loss of 45.7% puts it behind 81% of the stocks worth at least $300 million with that much history. The S&P 500 returned 81.7%.
- **In a crash:** The 2022 bear market took 81.2% off COIN, against 24.5% for the S&P 500. That was more than SCHW (Charles Schwab, 36.9%) but less than GLXY (Galaxy Digital, 82.3%).
- **Diversification:** Against the S&P 500, COIN has a correlation of 0.60 over 5 years, more closely than 90% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge.
- **Better options**
  - **Popular alternatives:** IBKR (Interactive Brokers Group), HOOD (Robinhood Markets) and CME (CME Group) earned more than COIN with less volatility over the past 5 years. IBKR returned 35.4% a year at 35.4% volatility, against a loss of 11.5% a year at 86.9%.
  - **Nearby categories and themes:** GS (Goldman Sachs Group, capital markets) and MS (Morgan Stanley, capital markets) earned more than COIN with less volatility over the past 5 years. GS returned 19.6% a year at 28.6% volatility, against a loss of 11.5% a year at 86.9%.
  - **Whole market:** 3,063 of the 3,633 stocks and funds worth at least $500 million earned more than COIN with less volatility over the past 5 years, among them NVDA (NVIDIA), AAPL (Apple) and GOOG (Alphabet).

## How much would $10,000 in COIN have grown?

This chart tracks a hypothetical $10,000 investment in COIN over the past 5 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of COIN over the same span and COIN's popular alternatives, among those that traded for the entire period.

- $10,000 invested in COIN at the end of September 2021 would have grown to $8,195 by September 2026, less than the $19,000 it would have become in SPY, an S&P 500 fund.
- All eight other investments on the chart ended ahead of COIN, and IBKR finished highest, at $56,308.

## COIN at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- COIN is still 59.3% below its all-time high.
- COIN's deepest decline since it began trading in 2021 was 90.9%, from November 2021 to December 2022. It took about two years from the low to climb back to its old high.
- Over four full calendar years, COIN's best was 2023, when it returned 391%, and its worst was 2022, when it lost 86.0%. It lost money in two of those years.

- Type: Stock, Financials (Financial - Data & Stock Exchanges)
- Trading since: April 14, 2021
- Market value: $45B
- Volatility (5 years): 86.9%; Sharpe ratio: 0.29
- Worst decline ever: −90.9%, from November 9, 2021 to December 28, 2022; back at its high by June 26, 2025

| Period | COIN total return |
| --- | --- |
| 1 month | −15.0% |
| 3 months | +6.5% |
| 6 months | −19.3% |
| year to date | −27.8% |
| 1 year | −50.3% |
| 3 years | +129% |
| 5 years | −45.7% |

## COIN against the whole market

Where COIN ranks among every stock and fund, and what across the market has done better.

### How does COIN rank among all stocks?

This section ranks COIN on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- COIN's 1-year return ranks in the bottom 5% of the 3,287 stocks worth at least $300 million with 1 year of history.
- COIN's 3-year return ranks in the top 24% of the 3,017 stocks worth at least $300 million with 3 years of history.

| Measure | COIN | Rank |
| --- | --- | --- |
| 1-year return | −50.3% | 3,109 of 3,287 (top 95%) |
| 3-year return | +129% | 710 of 3,017 (top 24%) |
| 5-year return | −45.7% | 2,351 of 2,893 (top 82%) |
| Volatility, 5 years | 86.9% | 2,697 of 2,893 (top 94%) |
| Sharpe ratio, 5 years | 0.29 | 1,590 of 2,893 (top 55%) |

### What has beaten COIN on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 2,063 stocks and 1,000 ETFs worth at least $500 million sit in the green region: each earned more than COIN over the past 5 years with smaller price swings. That is 84% of the 3,633 screened.
- Among those with at least half COIN's swings, CLS has the best return for its risk: 101% a year at 59.7% volatility, 31% less than COIN's 86.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.47 against 0.29 for COIN.
- Among COIN's popular alternatives, IBKR, CME and HOOD are in the region. IBKR earned 35.4% a year against a loss of 11.5% a year for COIN, at 35.4% volatility, 59% less than COIN's 86.9%.

### Is there a better investment than COIN?

The table below lists investments that beat COIN over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among COIN's popular alternatives, IBKR, HOOD and CME earned more than COIN with less volatility over the past 5 years. IBKR returned 35.4% a year at 35.4% volatility, against a loss of 11.5% a year at 86.9%.
- Looking beyond its popular alternatives, GS (capital markets) and MS (capital markets) earned more than COIN with less volatility over the past 5 years. GS returned 19.6% a year at 28.6% volatility, against a loss of 11.5% a year at 86.9%.
- Across the whole market, 3,063 of the 3,633 stocks and funds worth at least $500 million earned more than COIN with less volatility over the past 5 years, among them NVDA, AAPL and GOOG.

The 15 strongest of 3,063 investments that beat COIN over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 5Y return | Correlation with COIN | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| COIN: Coinbase Global, Inc. (this page) |  | −11.5% | 86.9% | 0.29 | −90.9% | −45.7% |  |  |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +122% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MPC](https://easycompare.io/research/mpc): Marathon Petroleum Corporation | Oil & Gas | +51.2% | 33.4% | 1.41 | −79.7% | +690% | 0.22 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [PBR-A](https://easycompare.io/research/pbr-a): Petróleo Brasileiro S.A. - Petrobras | Integrated Oil & Gas | +51.8% | 37.5% | 1.31 | −71.7% | +705% | 0.10 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [NVDA](https://easycompare.io/research/nvda): NVIDIA Corporation | Semiconductors | +58.0% | 51.9% | 1.14 | −66.3% | +884% | 0.54 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [HWM](https://easycompare.io/research/hwm): Howmet Aerospace Inc. | Aerospace & Defense | +47.3% | 32.5% | 1.36 | −68.9% | +594% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +479% | 0.12 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [FIX](https://easycompare.io/research/fix): Comfort Systems USA, Inc. | Engineering & Construction | +77.0% | 46.7% | 1.46 | −49.7% | +1,636% | 0.47 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | Internet Services | +19.0% | 32.0% | 0.71 | −44.6% | +138% | 0.31 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [AVGO](https://easycompare.io/research/avgo): Broadcom Inc. | Semiconductors | +48.3% | 44.5% | 1.11 | −48.3% | +617% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [TSM](https://easycompare.io/research/tsm): Taiwan Semiconductor Manufacturing Company Limited | Semiconductors | +31.5% | 38.5% | 0.91 | −56.6% | +293% | 0.32 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MU](https://easycompare.io/research/mu): Micron Technology, Inc. | Semiconductors | +68.1% | 57.1% | 1.20 | −57.6% | +1,244% | 0.23 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| ATI: ATI Inc. | Metals & Mining | +61.8% | 42.9% | 1.34 | −82.4% | +1,008% | 0.31 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| CRS: Carpenter Technology Corporation | Metals & Mining | +63.9% | 46.5% | 1.30 | −74.7% | +1,082% | 0.32 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [AMD](https://easycompare.io/research/amd): Advanced Micro Devices, Inc. | Semiconductors | +35.7% | 57.6% | 0.82 | −65.5% | +359% | 0.31 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | Banks | +17.3% | 24.3% | 0.78 | −43.6% | +122% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## COIN against its popular alternatives

The investments people most often weigh against COIN, compared period by period and year by year.

### How do COIN's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Eight of the 14 popular alternatives, led by IBKR, HOOD and CME, were both more rewarding and calmer than COIN over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, COIN returned -11.5% a year, less than the S&P 500's 12.7%, with higher volatility (86.9% against 17.1%).

### Has COIN consistently beaten its popular alternatives?

This section compares COIN with the investments people most often weigh against it, checking each one over seven periods from one month to five years.

- Three of the 19 popular alternatives, IBKR, HOOD and MSTR, outperformed COIN in at least 3 of 5 short-term and 2 of 2 long-term timeframes.
- IBKR outperformed COIN in every long-term period and in all but one short-term period, the most consistent record in the group.
- IBKR, CME and MSTR earned more for the risk they took than COIN (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | Periods ahead of COIN | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- |
| COIN: Coinbase Global, Inc. (this page) | −50.3% | +129% | −45.7% |  |  | 0.29 |
| [IBKR](https://easycompare.io/research/ibkr): Interactive Brokers Group, Inc. | +24.4% | +320% | +355% | 4/5 short-term, 2/2 long-term | all-weather | 1.04 |
| [HOOD](https://easycompare.io/research/hood): Robinhood Markets, Inc. | −27.7% | +976% | +135% | 3/5 short-term, 2/2 long-term | consistent | 0.59 |
| [MSTR](https://easycompare.io/research/mstr): Strategy Inc | −51.9% | +310% | +88.2% | 3/5 short-term, 2/2 long-term | consistent | 0.59 |
| GLXY: Galaxy Digital | −60.3% | +348% | −15.6% | 0/5 short-term, 2/2 long-term |  | 0.43 |
| [CME](https://easycompare.io/research/cme): CME Group Inc. | +14.6% | +57.7% | +70.1% | 5/5 short-term, 1/2 long-term |  | 0.62 |
| [ICE](https://easycompare.io/research/ice): Intercontinental Exchange, Inc. | +3.5% | +52.4% | +30.0% | 5/5 short-term, 1/2 long-term |  | 0.35 |
| [NDAQ](https://easycompare.io/research/ndaq): Nasdaq, Inc. | +8.1% | +95.1% | +52.9% | 4/5 short-term, 1/2 long-term |  | 0.47 |
| FUTU: Futu Holdings Limited | −36.1% | +89.7% | +63.7% | 3/5 short-term, 1/2 long-term |  | 0.49 |
| [SCHW](https://easycompare.io/research/schw): The Charles Schwab Corporation | −3.1% | +86.2% | +19.1% | 3/5 short-term, 1/2 long-term |  | 0.27 |
| SOFI: SoFi Technologies, Inc. | −48.8% | +99.2% | −30.3% | 1/5 short-term, 1/2 long-term |  | 0.21 |
| ETHA: iShares Ethereum Trust ETF | −39.1% | — | — | 5/5 short-term, 0/2 long-term |  | — |
| [IBIT](https://easycompare.io/research/ibit): iShares Bitcoin Trust ETF | −25.8% | — | — | 5/5 short-term, 0/2 long-term |  | — |
| CRCL: Circle Internet Group | −34.4% | — | — | 4/5 short-term, 0/2 long-term |  | — |
| BULL: Webull Corporation Class A Ordinary Shares | −47.5% | −43.9% | — | 3/5 short-term, 0/2 long-term |  | — |
| RIOT: Riot Platforms, Inc. | −37.4% | +55.2% | −56.2% | 2/5 short-term, 0/2 long-term |  | 0.29 |
| MARA: Marathon Digital Holdings, Inc. | −63.9% | −3.6% | −85.9% | 1/5 short-term, 0/2 long-term |  | 0.15 |
| ETOR: eToro Group Ltd. | −38.3% | — | — | 1/5 short-term, 0/2 long-term |  | — |
| TIGR: UP Fintech Holding Ltd. Sponsored ADR Class A | −58.6% | −9.7% | −50.5% | 0/5 short-term, 0/2 long-term |  | 0.21 |
| BKKT: Bakkt Holdings, Inc. | −84.4% | −79.3% | −97.3% | 0/5 short-term, 0/2 long-term |  | 0.31 |

### How did COIN do year by year?

This table shows each investment's total return in every full calendar year since 2022, along with where COIN ranked among its popular alternatives each year.

- COIN finished ahead of the S&P 500 in two of its four full calendar years.
- Among its popular alternatives, IBKR came out ahead of COIN most often, in three of the four years both traded.
- Ranked against its popular alternatives each year, COIN finished in the top quarter in one of four years and in the bottom quarter in one. In 2025, it ranked 13 of 18.

| Year | COIN | SPY |
| --- | --- | --- |
| 2025 | −8.9% | +17.7% |
| 2024 | +42.8% | +24.9% |
| 2023 | +391% | +26.2% |
| 2022 | −86.0% | −18.2% |

## Risk and diversification

How COIN has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were COIN's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all four of COIN's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: COIN fell 66.4% from July 2025 to February 2026, while the S&P 500 rose 9.2%.
- The slowest recovery came after COIN fell 90.9% from November 2021 to December 2022; it did not regain that peak until June 2025, two years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −90.9% | November 9, 2021 | December 28, 2022 | June 26, 2025 | −17.8% | 2022 bear market |
| −66.4% | July 18, 2025 | February 12, 2026 | not yet | +9.2% |  |
| −35.5% | April 16, 2021 | July 19, 2021 | November 3, 2021 | +2.2% |  |
| −10.6% | June 26, 2025 | July 1, 2025 | July 10, 2025 | +0.9% |  |

### How did COIN do in stock market crashes?

This section measures how far COIN, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- COIN fell further than the S&P 500 in all two crashes it has traded through. The clearest case was the 2022 bear market, when COIN fell 81.2% and the S&P 500 fell 24.5%.
- Among its popular alternatives, IBKR held up best, falling less than COIN in all two crashes they both traded through.
- COIN began trading after the 2008 financial crisis, but seven of its popular alternatives lived through it. The mildest fall among them was SCHW's 56.0%, against 55.2% for the S&P 500.

| Crash | Dates | COIN fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | not trading | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | not trading | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | not trading | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | not trading | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | not trading | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | not trading | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −81.2% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −15.2% | −3.4% |

### How closely does COIN move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Ten of the 14 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than COIN's 0.55, led by CME, IBKR and HOOD.
- IBKR took just 100% of the S&P 500's losses, against 339% for COIN, while still keeping 178% of its gains.
- Over the past 5 years, COIN captured 187% of the S&P 500's gains in rising months and 339% of its losses in falling months, with a beta of 3.40. It amplified the market's moves in both directions.

Measured over the past 5 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| COIN: Coinbase Global, Inc. (this page) | 187% | 339% | 3.40 |
| [IBKR](https://easycompare.io/research/ibkr): Interactive Brokers Group, Inc. | 178% | 100% | 1.36 |
| [HOOD](https://easycompare.io/research/hood): Robinhood Markets, Inc. | 220% | 256% | 2.34 |
| [MSTR](https://easycompare.io/research/mstr): Strategy Inc | 248% | 301% | 3.56 |
| GLXY: Galaxy Digital | 239% | 358% | 3.74 |
| [CME](https://easycompare.io/research/cme): CME Group Inc. | 42.0% | 13.0% | 0.24 |
| [ICE](https://easycompare.io/research/ice): Intercontinental Exchange, Inc. | 98.0% | 131% | 0.94 |
| [NDAQ](https://easycompare.io/research/ndaq): Nasdaq, Inc. | 110% | 143% | 0.99 |
| FUTU: Futu Holdings Limited | 68.0% | 94.0% | 0.46 |
| [SCHW](https://easycompare.io/research/schw): The Charles Schwab Corporation | 76.0% | 92.0% | 0.79 |
| SOFI: SoFi Technologies, Inc. | 178% | 305% | 2.33 |
| RIOT: Riot Platforms, Inc. | 198% | 360% | 3.74 |
| MARA: Marathon Digital Holdings, Inc. | 229% | 490% | 5.32 |
| TIGR: UP Fintech Holding Ltd. Sponsored ADR Class A | 7.0% | 117% | 0.43 |
| BKKT: Bakkt Holdings, Inc. | 144% | 619% | 6.08 |

### What diversifies COIN?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in COIN into GLD would have cut the portfolio's volatility by 20% over the past 5 years and raised its annual return (-3.9% for COIN alone, +6.1% for the mix).
- CAH made money in two of the two calendar years in which COIN lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of COIN over the past 5 years, with correlations of 0.36 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with COIN | 5Y return | Volatility | Sharpe | Rose in COIN's 2 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.17 | +119% | 11.1% | 1.48 | 2 of 2 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.16 | +225% | 19.1% | 1.34 | 2 of 2 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.36 | +101% | 14.5% | 1.04 | 2 of 2 |
| HDV: iShares Core High Dividend ETF | 0.14 | +83.3% | 13.0% | 1.00 | 2 of 2 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.46 | +323% | 36.9% | 0.97 | 1 of 2 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.36 | +85.0% | 13.8% | 0.96 | 1 of 2 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.06 | +126% | 18.9% | 0.96 | 1 of 2 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.44 | +136% | 20.8% | 0.93 | 1 of 2 |

## Common questions

### What was COIN's worst drawdown?

COIN's deepest decline since it began trading in 2021 was 90.9%, from November 2021 to December 2022. It took about two years from the low to climb back to its old high. Because COIN launched in April 2021, that record does not include the dot-com bust, the 2008 financial crisis or six other sell-offs.

### What were COIN's best and worst years?

Over four full calendar years, COIN's best year was 2023, when it returned 391%. Its worst was 2022, with a return of -86.0%.

### Is there a better investment than COIN?

Among COIN's popular alternatives, IBKR, HOOD and CME earned more than COIN with less volatility over the past 5 years. IBKR returned 35.4% a year at 35.4% volatility, against a loss of 11.5% a year at 86.9%. Looking beyond its popular alternatives, GS (capital markets) and MS (capital markets) earned more than COIN with less volatility over the past 5 years. GS returned 19.6% a year at 28.6% volatility, against a loss of 11.5% a year at 86.9%.

### Is COIN more volatile than the S&P 500?

Yes. COIN's volatility over the past 5 years was 86.9%, 5.1 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, COIN's return lands within 86.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is COIN's Sharpe ratio?

COIN's Sharpe ratio over the past 5 years was 0.29, against 0.79 for the S&P 500, so COIN earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is COIN with the S&P 500?

Over the past 5 years, COIN's monthly returns had a correlation of 0.60 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against COIN instead: the lower it is, the more that option would diversify a COIN holding.

### What are the best alternatives to COIN?

Of the 19 popular alternatives we compared, three outperformed COIN in at least 3 of 5 short-term and 2 of 2 long-term timeframes, with dividends reinvested: IBKR, HOOD and MSTR.

### Did COIN outperform the S&P 500?

COIN finished ahead of the S&P 500 (SPY) in two of four full calendar years. In 2025, it returned -8.9%, against +17.7% for the index.

### How did COIN do in stock market crashes?

COIN fell less than the S&P 500 (SPY) in none of the two major crashes it has traded through, and further in two. The clearest case was the 2022 bear market, when COIN fell 81.2% and the S&P 500 fell 24.5%.

### What diversifies COIN?

These had a low correlation with COIN over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.17), DXJ (correlation 0.16) and EMLP (correlation 0.36); among large stocks, CAH (correlation 0.12), FIX (correlation 0.47) and MCK (correlation 0.15). A correlation near zero means the two have moved largely independently.

## More research

- [Interactive Brokers Group (IBKR) Performance, Alternatives and Market Rank](https://easycompare.io/research/ibkr)
- [Robinhood Markets (HOOD) Performance, Alternatives and Market Rank](https://easycompare.io/research/hood)
- [Strategy (MSTR) Performance, Alternatives and Market Rank](https://easycompare.io/research/mstr)
- [CME Group (CME) Performance, Alternatives and Market Rank](https://easycompare.io/research/cme)
- [Intercontinental Exchange (ICE) Performance, Alternatives and Market Rank](https://easycompare.io/research/ice)
- [Nasdaq (NDAQ) Performance, Alternatives and Market Rank](https://easycompare.io/research/ndaq)
- [Charles Schwab (SCHW) Performance, Alternatives and Market Rank](https://easycompare.io/research/schw)
- [iShares Bitcoin Trust ETF (IBIT) Performance, Alternatives and Market Rank](https://easycompare.io/research/ibit)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)

## Explore further

- Full page with charts: https://easycompare.io/research/coin
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against COIN live: https://betterthanspy.com/?b=COIN&utm_source=easycompare&utm_medium=research