Bitfarms Correlations

BITF Stock

USD 2.07 0.10 4.61%

The current 90-days correlation between Bitfarms and Marex Group plc is 0.07 (i.e., Significant 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

Very good diversification

The correlation between Bitfarms and DJI is -0.35 (i.e., Very 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.

Build AI portfolio with Bitfarms Stock

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 persons.

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

Moving together with Bitfarms Stock

0.69

NMFC

New Mountain Finance

Pair Corr

Moving against Bitfarms Stock

0.55	SBC	Brompton Split Banc	Pair Corr
0.53	LBS	Life Banc Split	Pair Corr
0.53	LCS	Brompton Lifeco Split Split	Pair Corr
0.5	PWI	Sustainable Power	Pair Corr
0.48	ASA	ASA Gold	Pair Corr
0.48	CGL	CATLIN GROUP	Pair Corr
0.43	DFN	Dividend 15 Split	Pair Corr
0.43	CSWC	Capital Southwest	Pair Corr
0.41	DGS	Dividend Growth Split	Pair Corr
0.4	TRIN	Trinity Capital	Pair Corr
0.33	URB	Urbana	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.7	MCD	McDonalds	Pair Corr
0.69	CSCO	Cisco Systems	Pair Corr
0.6	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.6	MRK	Merck Company Sell-off Trend	Pair Corr
0.58	KO	Coca Cola Earnings Call This Week	Pair Corr
0.58	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr
0.54	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.51	DD	Dupont De Nemours	Pair Corr
0.5	FCAP	First Capital	Pair Corr
0.5	CAT	Caterpillar	Pair Corr
0.46	IRNRF	Iron Road Limited Earnings Call This Week	Pair Corr
0.4	T	ATT Inc Aggressive Push	Pair Corr
0.39	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	MRX	SF	FIGR	SPNT	FFBC	TRMK	WAL	SEZL	ECC
MRX		0.8	0.52	0.2	0.78	0.83	0.91	0.75	-0.21	MRX
SF	0.8		0.47	0.26	0.42	0.51	0.69	0.84	0.1	SF
FIGR	0.52	0.47		-0.39	0.3	0.39	0.45	0.43	0.15	FIGR
SPNT	0.2	0.26	-0.39		-0.05	-0.04	0.04	0.39	0.11	SPNT
FFBC	0.78	0.42	0.3	-0.05		0.97	0.9	0.35	-0.55	FFBC
TRMK	0.83	0.51	0.39	-0.04	0.97		0.93	0.43	-0.53	TRMK
WAL	0.91	0.69	0.45	0.04	0.9	0.93		0.66	-0.35	WAL
SEZL	0.75	0.84	0.43	0.39	0.35	0.43	0.66		0.17	SEZL
ECC	-0.21	0.1	0.15	0.11	-0.55	-0.53	-0.35	0.17		ECC
	MRX	SF	FIGR	SPNT	FFBC	TRMK	WAL	SEZL	ECC

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

TRMK	+ 0.97	FFBC
WAL	+ 0.93	TRMK
WAL	+ 0.91	MRX
WAL	+ 0.9	FFBC
SEZL	+ 0.84	SF
TRMK	+ 0.83	MRX

High negative correlations

ECC	- 0.55	FFBC
ECC	- 0.53	TRMK
SPNT	- 0.39	FIGR
ECC	- 0.35	WAL
ECC	- 0.21	MRX
FFBC	- 0.05	SPNT

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
MRX	1.30	0.22	0.15	0.29	1.28	(1.52)	3.10	(1.85)	9.33
SF	1.29	(0.13)	0.00	(0.02)	0.00	0.00	2.43	(2.84)	7.52
FIGR	5.15	0.24	0.02	(0.32)	5.42	(6.28)	13.78	(8.90)	36.53
SPNT	1.31	0.02	0.00	0.11	1.92	(1.24)	2.40	(3.21)	8.82
FFBC	1.24	0.30	0.28	0.38	0.76	(1.72)	3.31	(1.24)	7.24
TRMK	1.10	0.16	0.11	0.23	1.25	(1.26)	2.46	(1.41)	9.61
WAL	1.36	0.16	0.10	0.18	1.54	(1.35)	3.88	(2.94)	10.08
SEZL	3.11	(0.03)	0.02	0.06	3.90	(3.27)	6.39	(6.55)	22.11
ECC	1.60	(0.22)	0.00	1.48	0.00	0.00	2.69	(4.17)	11.74

Bitfarms Corporate Management

Patricia Osorio	VP Secretary	Profile
Rachel Silverstein	General America	Profile
Philippe Fortier	Senior Development	Profile
Nicolas Bonta	Founder Chairman	Profile
Liam Wilson	Chief Officer	Profile
MarcAndre Ammann	Senior Accounting	Profile

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