Bitfarms Correlations

BITF Stock

USD 1.42 0.02 1.43%

The current 90-days correlation between Bitfarms and HIVE Blockchain Technologies is 0.91 (i.e., Almost no diversification). The correlation of Bitfarms 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.

Bitfarms Correlation With Market

Good diversification

The correlation between Bitfarms and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitfarms 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 Bitfarms. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in Bitfarms Stock please use our How to Invest in Bitfarms guide.

Moving together with Bitfarms Stock

0.81	AFCG	AFC Gamma	Pair Corr
0.74	CODI	Compass Diversified	Pair Corr
0.9	DHIL	Diamond Hill Investment	Pair Corr
0.87	AX	Axos Financial	Pair Corr
0.64	BX	Blackstone Group	Pair Corr
0.73	BY	Byline Bancorp	Pair Corr
0.7	CB	Chubb	Pair Corr
0.66	EG	Everest Group	Pair Corr

Moving against Bitfarms Stock

0.79	NCPLW	Netcapital	Pair Corr
0.76	LEGT	Legato Merger Corp	Pair Corr
0.71	V	Visa Class A	Pair Corr
0.71	C	Citigroup Aggressive Push	Pair Corr
0.69	SCM	Stellus Capital Inve Normal Trading	Pair Corr
0.66	AXP	American Express	Pair Corr
0.59	HNNA	Hennessy Ad	Pair Corr
0.58	DFS	Discover Financial	Pair Corr
0.53	MA	Mastercard Sell-off Trend	Pair Corr
0.51	BK	Bank of New York	Pair Corr
0.46	HRZN	Horizon Technology	Pair Corr
0.44	COF	Capital One Financial	Pair Corr
0.4	AB	AllianceBernstein	Pair Corr
0.37	ENVA	Enova International	Pair Corr
0.85	LX	Lexinfintech Holdings	Pair Corr
0.79	RM	Regional Management Corp	Pair Corr
0.74	GL	Globe Life	Pair Corr
0.68	DB	Deutsche Bank AG Normal Trading	Pair Corr
0.47	QD	Qudian Inc Buyout Trend	Pair Corr
0.46	GS	Goldman Sachs Group	Pair Corr
0.42	HG	Hamilton Insurance Group,	Pair Corr
0.31	PT	Pintec Technology	Pair Corr

Related Correlations Analysis

	HIVE	CLSK	MARA	RIOT	HUT	BTBT	WULF	CIFR	IREN	SDIG
HIVE		0.94	0.77	0.51	0.53	0.95	0.91	0.82	0.27	0.98	HIVE
CLSK	0.94		0.81	0.55	0.52	0.94	0.85	0.83	0.33	0.92	CLSK
MARA	0.77	0.81		0.41	0.73	0.86	0.84	0.68	0.43	0.81	MARA
RIOT	0.51	0.55	0.41		0.57	0.62	0.58	0.58	0.4	0.53	RIOT
HUT	0.53	0.52	0.73	0.57		0.69	0.74	0.53	0.54	0.63	HUT
BTBT	0.95	0.94	0.86	0.62	0.69		0.93	0.81	0.46	0.95	BTBT
WULF	0.91	0.85	0.84	0.58	0.74	0.93		0.83	0.44	0.94	WULF
CIFR	0.82	0.83	0.68	0.58	0.53	0.81	0.83		0.55	0.8	CIFR
IREN	0.27	0.33	0.43	0.4	0.54	0.46	0.44	0.55		0.3	IREN
SDIG	0.98	0.92	0.81	0.53	0.63	0.95	0.94	0.8	0.3		SDIG
	HIVE	CLSK	MARA	RIOT	HUT	BTBT	WULF	CIFR	IREN	SDIG

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Risk-Adjusted Indicators

There is a big difference between Bitfarms Stock performing well and Bitfarms 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 Bitfarms' 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
HIVE	3.47	(0.64)	0.00	(3.47)	0.00	0.00	7.53	(7.71)	24.36
CLSK	4.92	(0.17)	0.00	(1.41)	0.00	0.00	9.15	(9.42)	44.80
MARA	4.71	0.01	0.00	0.01	5.78	(5.04)	9.66	(9.72)	43.97
RIOT	4.62	0.12	0.02	0.65	5.92	(5.05)	9.97	(12.32)	33.41
HUT	4.98	0.31	0.05	(0.28)	6.06	(5.97)	10.39	(8.92)	49.56
BTBT	5.24	(0.23)	0.00	(0.71)	0.00	0.00	13.10	(12.00)	42.28
WULF	5.98	(0.50)	0.00	(3.10)	0.00	0.00	10.96	(12.10)	46.95
CIFR	5.12	0.00	0.00	(0.01)	6.94	(5.47)	14.56	(10.27)	44.11
IREN	5.57	0.52	0.08	(1.06)	6.68	(6.46)	10.36	(9.84)	53.96
SDIG	4.36	(0.54)	0.00	0.96	0.00	0.00	9.64	(7.92)	39.35

Bitfarms Corporate Management

Patricia Osorio	VP Secretary	Profile
Rachel Silverstein	U Counsel	Profile
Stephanie Wargo	Vice Communications	Profile
Philippe Fortier	Senior Development	Profile
Nicolas Bonta	Founder Chairman	Profile
Tracy Krumme	Senior Relations	Profile
Liam Wilson	Chief Officer	Profile

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