Bit Digital Correlations

BTBT Stock  USD 4.03  0.01  0.25%   
The current 90-days correlation between Bit Digital and Weyco Group is 0.3 (i.e., Weak diversification). The correlation of Bit Digital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Bit Digital Correlation With Market

Very weak diversification

The correlation between Bit Digital and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bit Digital and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bit Digital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.
For more information on how to buy Bit Stock please use our How to Invest in Bit Digital guide.

Moving together with Bit Stock

  0.9ANY Sphere 3D Corp Buyout TrendPairCorr
  0.64GRYP Gryphon Digital Mining Symbol ChangePairCorr
  0.9RIOT Riot BlockchainPairCorr
  0.9CLSK CleanSpark Fiscal Year End 5th of December 2024 PairCorr
  0.81S SentinelOnePairCorr
  0.73AI C3 Ai Inc Upward RallyPairCorr
  0.79BL BlacklinePairCorr
  0.75FI Fiserv,PairCorr
  0.64FN FabrinetPairCorr
  0.63IT GartnerPairCorr
  0.71KD Kyndryl Holdings Sell-off TrendPairCorr
  0.63KE Kimball ElectronicsPairCorr
  0.67KN Knowles CorPairCorr
  0.71ML MoneyLionPairCorr
  0.61MU Micron TechnologyPairCorr
  0.74NN Nextnav Acquisition Corp Buyout TrendPairCorr

Moving against Bit Stock

  0.71XTIA XTI Aerospace, Symbol ChangePairCorr
  0.7WKEY Wisekey International Tech BoostPairCorr
  0.68NTRP NextTrip Symbol ChangePairCorr
  0.49FRGE Forge Global HoldingsPairCorr
  0.45MX MagnaChip SemiconductorPairCorr
  0.33MQ MarqetaPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
WEYSLECO
RCKYSKX
RCKYEML
VRASKX
RCKYVRA
VRALECO
  
High negative correlations   
RCKYLECO
RCKYWEYS
LECOSKX
WEYSSKX
WEYSEML
VRAEML

Risk-Adjusted Indicators

There is a big difference between Bit Stock performing well and Bit Digital Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Bit Digital's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Bit Digital Corporate Management

Erke HuangCFO DirectorProfile
Benjamin LamsonHead RevenueProfile
Tom SanfilippoChief OfficerProfile
William CFAHead RelationsProfile
Samir TabarChief OfficerProfile