B2Gold Corp

10-Year Study

BTO.TO · Basic Materials · CA · Common Stock

Executive Summary: B2Gold Corp has compounded at 13.0% annually over the last 10 years, with a maximum drawdown of 60.3% and an annualized volatility of 70.7%.

1Y CAGR
+54.1%
3Y CAGR
+14.0%
5Y CAGR
+5.3%
10Y CAGR
+13.0%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
60.3%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.45
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
1.05
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
43.4%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +78.3%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2021 · -27.9%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
70%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
20267.326.4-24.67.3————————9.7%
2025-0.310.36.25.47.07.2-5.321.721.8-10.85.7-4.578.3%
2024-10.5-12.89.8-2.010.3-3.412.8-8.511.510.0-11.3-12.9-12.3%
20239.6-11.615.6-0.2-5.6-5.4-3.2-9.0-5.413.83.2-7.7-9.8%
2022-8.011.812.9-5.1-7.9-11.52.8-10.011.2-6.312.73.40.9%
2021-11.4-12.3-1.79.44.4-15.20.6-6.7-10.518.0-1.0-0.8-27.9%
202010.0-6.5-20.465.37.82.020.2-5.6-0.6-1.2-15.5-1.038.9%
20194.3-0.5-9.7-2.71.47.95.813.5-9.87.46.36.130.9%
2018-4.12.4-7.34.5-3.8-3.9-5.0-5.6-3.910.50.622.02.8%
201723.83.3-7.1-9.5-1.27.7-14.29.60.3-4.70.317.921.6%
2016———29.2-13.333.926.2-19.34.212.8-16.2-1.847.7%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 70.7%. The dominant macroeconomic risk driver is SHV.US, accounting for 66.0% of variance. Idiosyncratic stock-specific factors contribute 8.0%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0112916.689885762049
2016-05-0111203.677904708833
2016-06-0114999.721370855392
2016-07-0118935.079409306214
2016-08-0115277.7932571747
2016-09-0115925.884647534132
2016-10-0117962.663694622457
2016-11-0115045.973808860408
2016-12-0114768.459180830314
2017-01-0118286.98801894678
2017-02-0118888.8269713012
2017-03-0117546.391752577318
2017-04-0115879.632209529118
2017-05-0115694.065199219838
2017-06-0116898.300362217888
2017-07-0114490.387294511005
2017-08-0115879.632209529118
2017-09-0115925.884647534132
2017-10-0115185.28838116467
2017-11-0115231.540819169684
2017-12-0117962.663694622457
2018-01-0117222.067428252994
2018-02-0117638.896628587347
2018-03-0116342.713847868488
2018-04-0117083.31011423795
2018-05-0116435.21872387852
2018-06-0115787.127333519087
2018-07-0114999.721370855392
2018-08-0114166.620228475897
2018-09-0113611.033714126497
2018-10-0115045.973808860408
2018-11-0115139.035943159653
2018-12-0118471.997770966842
2019-01-0119259.403733630537
2019-02-0119166.341599331292
2019-03-0117314.572304263023
2019-04-0116851.490665923655
2019-05-0117083.31011423795
2019-06-0118425.74533296183
2019-07-0119490.665923655615
2019-08-0122129.283923098355
2019-09-0119953.747561994987
2019-10-0121434.94009473391
2019-11-0122780.16160490388
2019-12-0124171.635553078853
2020-01-0126584.563945388687
2020-02-0124867.65115631095
2020-03-0119796.60072443578
2020-04-0132716.076901643908
2020-05-0135271.66341599332
2020-06-0135977.70966843132
2020-07-0143247.70130955698
2020-08-0140824.18500975202
2020-09-0140585.678461967116
2020-10-0140117.58149902479
2020-11-0133891.89189189189
2020-12-0133565.3385344107
2021-01-0129752.020061298415
2021-02-0126080.245193647257
2021-03-0125646.698244636387
2021-04-0128064.084703259963
2021-05-0129296.74003900808
2021-06-0124833.65840066871
2021-07-0124976.873780997492
2021-08-0123305.656171635554
2021-09-0120858.177765394263
2021-10-0124615.770409584842
2021-11-0124374.477570353858
2021-12-0124190.582334912233
2022-01-0122247.422680412372
2022-02-0124870.437447757038
2022-03-0128080.245193647253
2022-04-0126661.46558930064
2022-05-0124557.81554750627
2022-06-0121740.317637224856
2022-07-0122338.255781554755
2022-08-0120094.7339091669
2022-09-0122338.255781554755
2022-10-0120929.506826414043
2022-11-0123595.987740317636
2022-12-0124409.584842574535
2023-01-0126743.93981610476
2023-02-0123648.37001950404
2023-03-0127329.06101978267
2023-04-0127277.793257174697
2023-05-0125742.546670381726
2023-06-0124354.416271942046
2023-07-0123580.38450821956
2023-08-0121465.03204235163
2023-09-0120314.293675118417
2023-10-0123126.77626079688
2023-11-0123856.227361382
2023-12-0122017.27500696573
2024-01-0119705.21036500418
2024-02-0117183.059348007802
2024-03-0118864.30760657565
2024-04-0118492.059069378658
2024-05-0120405.126776260797
2024-06-0119716.35553078852
2024-07-0122241.292839230984
2024-08-0120361.10337141265
2024-09-0122705.488994148785
2024-10-0124986.9044302034
2024-11-0122162.162162162163
2024-12-0119309.556979660072
2025-01-0119254.945667316802
2025-02-0121229.86904430203
2025-03-0122551.685706324883
2025-04-0123764.279743661184
2025-05-0125418.779604346615
2025-06-0127238.227918640292
2025-07-0125798.829757592644
2025-08-0131390.916689885762
2025-09-0138219.55976595152
2025-10-0134108.66536639733
2025-11-0136053.49679576484
2025-12-0134438.56227361382
2026-01-0136946.22457509056
2026-02-0146698.244636388976
2026-03-0135218.723878517696
2026-04-0137782.112008916134
Annual Return Matrix
YearAnnual Return
20170.21628556335370908
20180.028355152944096407
20190.3085555689634367
20200.38862504610844706
2021-0.2792987232912191
20220.009053213545266114
2023-0.0980069858228888
2024-0.12298152366489501
20250.7834983117370349
20260.09708737864077688
Total Factor Risk
0.707455726442819
VTI.US Exposure
-0.0115378205993855
VEA.US Exposure
0.05461129090839723
VWO.US Exposure
-0.008804057339036905
QQQ.US Exposure
0.010425293140272867
VTV.US Exposure
-0.004784403066593352
IJR.US Exposure
0.008875388791052085
QUAL.US Exposure
-0.008241408514227435
SHV.US Exposure
0.6595179030672645
TLT.US Exposure
-0.012535778681589827
LQD.US Exposure
0.057848908916109325
HYG.US Exposure
-0.002792530550790529
GLD.US Exposure
0.16556422824793413
USO.US Exposure
0.00042171248299704896
VNQ.US Exposure
0.007952657390509956
BTC-USD.CC Exposure
0.006870190326951568
CPER.US Exposure
-0.00226283872977849
VIX.INDX Exposure
0.0008056607017788679
UUP.US Exposure
-0.007034150858341127
TIP.US Exposure
0.005191429710987716
Idiosyncratic Exposure
0.07990832465548788
Value Score
43.3
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
14.3
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
70.7%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →16.8x
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →1.19%
Market Cap$8.8B
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$150
Avg Yield on Cost
1.50%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$150.461.50%Solid

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
-1.8%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+8.3%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
20.0% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
1.33
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is B2Gold Corp a high-risk investment?

B2Gold Corp (BTO.TO) has an annualized volatility of 70.7% and experienced a maximum drawdown of 60.3% over the last 10 years. Its primary macro risk driver is SHV.US.

What is the 10-year return of BTO.TO?

Over the past 10 years, BTO.TO has generated a Compound Annual Growth Rate (CAGR) of 13.0%. It has had a positive return in 70% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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