BIT Mining Correlations

BTCM Stock

USD 2.77 0.02 0.72%

The current 90-days correlation between BIT Mining and Innodata is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BIT Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BIT Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BIT Mining Correlation With Market

Very weak diversification

The correlation between BIT Mining 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 Mining 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 Mining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

To learn how to invest in BIT Stock, please use our How to Invest in BIT Mining guide.

Moving together with BIT Stock

0.68	BR	Broadridge Financial	Pair Corr
0.85	FI	Fiserv,	Pair Corr
0.64	IT	Gartner	Pair Corr
0.66	KD	Kyndryl Holdings Tech Boost	Pair Corr
0.75	DMRC	Digimarc Tech Boost	Pair Corr
0.68	WEBB	Web Global Holdings	Pair Corr
0.62	FIS	Fidelity National	Pair Corr
0.81	UIS	Unisys	Pair Corr
0.79	WIT	Wipro Limited ADR	Pair Corr
0.85	GDYN	Grid Dynamics Holdings	Pair Corr
0.79	GLOB	Globant SA	Pair Corr
0.67	HCKT	Hackett Group	Pair Corr
0.69	LDOS	Leidos Holdings	Pair Corr
0.61	AUROW	Aurora Innovation Tech Boost	Pair Corr

Moving against BIT Stock

0.78	GMM	Global Mofy Metaverse	Pair Corr
0.64	XRX	Xerox Corp	Pair Corr
0.43	GIB	CGI Inc	Pair Corr
0.41	JFU	9F Inc	Pair Corr
0.37	VEEA	VEEA Symbol Change	Pair Corr
0.85	NTRP	NextTrip Symbol Change	Pair Corr
0.78	NOTE	FiscalNote Holdings	Pair Corr
0.64	NABL	N Able Inc	Pair Corr
0.63	TRIRF	Triterras	Pair Corr
0.58	INFY	Infosys Ltd ADR	Pair Corr
0.56	BNAIW	Brand Engagement Network Symbol Change	Pair Corr

Related Correlations Analysis

	VNET	GDS	CLVT	CACI	EXLS	CD	TWKS	IT	BBAI	INOD
VNET		0.73	-0.16	0.37	0.47	0.1	0.66	0.61	0.21	0.22	VNET
GDS	0.73		-0.35	0.69	0.63	0.4	0.69	0.75	0.17	0.31	GDS
CLVT	-0.16	-0.35		-0.1	-0.84	-0.7	-0.6	-0.57	-0.56	-0.9	CLVT
CACI	0.37	0.69	-0.1		0.44	0.38	0.51	0.59	0.06	0.07	CACI
EXLS	0.47	0.63	-0.84	0.44		0.79	0.86	0.76	0.68	0.86	EXLS
CD	0.1	0.4	-0.7	0.38	0.79		0.68	0.6	0.7	0.76	CD
TWKS	0.66	0.69	-0.6	0.51	0.86	0.68		0.77	0.58	0.65	TWKS
IT	0.61	0.75	-0.57	0.59	0.76	0.6	0.77		0.47	0.53	IT
BBAI	0.21	0.17	-0.56	0.06	0.68	0.7	0.58	0.47		0.76	BBAI
INOD	0.22	0.31	-0.9	0.07	0.86	0.76	0.65	0.53	0.76		INOD
	VNET	GDS	CLVT	CACI	EXLS	CD	TWKS	IT	BBAI	INOD

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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

TWKS	+ 0.86	EXLS
INOD	+ 0.86	EXLS
CD	+ 0.79	EXLS
IT	+ 0.77	TWKS
IT	+ 0.76	EXLS
INOD	+ 0.76	CD

High negative correlations

INOD	- 0.9	CLVT
EXLS	- 0.84	CLVT
CD	- 0.7	CLVT
TWKS	- 0.6	CLVT
IT	- 0.57	CLVT
BBAI	- 0.56	CLVT

Risk-Adjusted Indicators

There is a big difference between BIT Stock performing well and BIT Mining 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 Mining'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
VNET	5.07	1.09	0.18	1.27	5.43	(6.13)	12.10	(9.11)	34.50
GDS	3.64	0.15	0.04	0.25	4.42	(4.16)	9.71	(6.32)	29.46
CLVT	2.17	(0.06)	0.00	0.17	0.00	0.00	4.12	(3.78)	31.28
CACI	1.25	(0.09)	(0.04)	0.01	2.58	(1.08)	2.84	(4.18)	14.84
EXLS	1.04	0.26	0.31	0.35	0.38	(1.34)	2.56	(1.41)	8.35
CD	2.23	0.29	0.07	1.52	2.40	(2.85)	5.00	(3.69)	16.11
TWKS	0.28	0.04	(0.16)	(4.83)	0.24	(0.40)	0.68	(0.46)	2.49
IT	0.80	0.00	0.00	0.12	1.06	(0.75)	1.37	(2.06)	7.23
BBAI	4.26	0.53	0.14	0.38	4.25	(5.32)	11.36	(7.14)	28.29
INOD	4.96	1.36	0.35	0.50	3.77	(6.04)	9.36	(7.63)	90.24

BIT Mining Corporate Management

Qian Sun	Independent Director	Profile
Angel Wong	Independent Director	Profile
Honghui Deng	Independent Director	Profile
Yu Wei	Independent Director	Profile
Shengwu Wu	Chairman of the Board	Profile

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