Bit Digital Correlations
| BTBT Stock | USD 3.37 0.19 5.34% |
The current 90-days correlation between Bit Digital and Hut 8 Corp is 0.59 (i.e., Very 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 0.48 (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.
Bit |
Moving together with Bit Stock
| 0.9 | ANY | Sphere 3D Corp | PairCorr |
| 0.76 | S | SentinelOne | PairCorr |
| 0.67 | FN | Fabrinet | PairCorr |
| 0.72 | MU | Micron Technology | PairCorr |
| 0.75 | FLEX | Flex | PairCorr |
| 0.61 | ARM | Arm Holdings plc | PairCorr |
| 0.72 | CRM | Salesforce | PairCorr |
Moving against Bit Stock
| 0.52 | BLMZ | BloomZ Ordinary Shares | PairCorr |
| 0.45 | VCSA | Vacasa Inc | PairCorr |
| 0.47 | ICG | Intchains Group | PairCorr |
| 0.44 | FRGT | Freight Technologies | PairCorr |
Related Correlations Analysis
| 0.88 | 0.53 | 0.88 | 0.68 | 0.06 | 0.9 | HUT | ||
| 0.88 | 0.51 | 0.92 | 0.8 | 0.17 | 0.85 | HIVE | ||
| 0.53 | 0.51 | 0.33 | 0.8 | 0.56 | 0.72 | CLSK | ||
| 0.88 | 0.92 | 0.33 | 0.62 | -0.01 | 0.77 | WULF | ||
| 0.68 | 0.8 | 0.8 | 0.62 | 0.4 | 0.8 | MARA | ||
| 0.06 | 0.17 | 0.56 | -0.01 | 0.4 | 0.07 | BITF | ||
| 0.9 | 0.85 | 0.72 | 0.77 | 0.8 | 0.07 | RIOT | ||
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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
| High negative correlations
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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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HUT | 4.61 | 0.19 | 0.08 | 0.11 | 5.03 | 10.78 | 28.55 | |||
| HIVE | 4.41 | (0.02) | 0.04 | 0.07 | 5.10 | 13.22 | 29.04 | |||
| CLSK | 4.41 | (0.68) | 0.00 | (0.06) | 0.00 | 10.38 | 26.00 | |||
| WULF | 5.23 | 0.72 | 0.15 | 0.30 | 5.12 | 11.94 | 28.55 | |||
| MARA | 3.69 | (0.31) | 0.00 | (0.01) | 0.00 | 9.35 | 21.06 | |||
| BITF | 4.11 | (0.55) | 0.00 | (0.05) | 0.00 | 8.38 | 31.51 | |||
| RIOT | 3.41 | (0.06) | 0.02 | 0.05 | 4.53 | 7.17 | 21.38 |
Bit Digital Corporate Management
| Erke Huang | CFO Director | Profile | |
| Benjamin Lamson | Head Revenue | Profile | |
| Tom Sanfilippo | Chief Officer | Profile | |
| William CFA | Head Relations | Profile | |
| Samir Tabar | Chief Officer | Profile |