Bitdeer Technologies Correlations

BTDR Stock

12.48 0.93 8.05%

The current 90-days correlation between Bitdeer Technologies and CleanSpark is 0.64 (i.e., Poor diversification). The correlation of Bitdeer Technologies 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.

Bitdeer Technologies Correlation With Market

Weak diversification

The correlation between Bitdeer Technologies Group and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitdeer Technologies Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Bitdeer Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bitdeer Technologies Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with Bitdeer Stock

0.76	JG	Aurora Mobile	Pair Corr
0.92	RXT	Rackspace Technology	Pair Corr
0.88	SAP	SAP SE ADR	Pair Corr
0.9	TTD	Trade Desk Aggressive Push	Pair Corr
0.9	CLSK	CleanSpark Aggressive Push	Pair Corr
0.82	UPLD	Upland Software	Pair Corr
0.87	HPQ	HP Inc	Pair Corr
0.86	HD	Home Depot	Pair Corr

Moving against Bitdeer Stock

0.83	MGIC	Magic Software Enter	Pair Corr
0.8	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.74	TLK	Telkom Indonesia Tbk	Pair Corr
0.71	PTITF	PT Indosat Tbk	Pair Corr
0.68	EC	Ecopetrol SA ADR	Pair Corr
0.68	KEP	Korea Electric Power	Pair Corr
0.58	PTAIY	Astra International Tbk	Pair Corr
0.49	RDZN	Roadzen Tech Boost	Pair Corr
0.47	ZM	Zoom Video Communications	Pair Corr
0.34	USDC	USDATA Corp	Pair Corr
0.85	MRK	Merck Company	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr
0.84	CSCO	Cisco Systems	Pair Corr
0.8	FTV	Fortive Corp	Pair Corr
0.74	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.7	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.57	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.56	MCD	McDonalds	Pair Corr
0.56	CAT	Caterpillar	Pair Corr
0.52	AXP	American Express	Pair Corr
0.42	MMM	3M Company	Pair Corr
0.4	IBM	International Business	Pair Corr
0.37	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	CLSK	OS	WK	BULL	CWAN	BILL	CALX	NAVN	STNE	ACIW
CLSK		-0.37	-0.15	0.75	-0.68	-0.24	0.59	0.42	0.76	0.55	CLSK
OS	-0.37		0.47	-0.31	-0.14	-0.44	0.17	0.18	0.0	-0.28	OS
WK	-0.15	0.47		-0.2	0.04	-0.04	-0.26	-0.28	-0.16	-0.24	WK
BULL	0.75	-0.31	-0.2		-0.7	-0.03	0.53	0.34	0.7	0.81	BULL
CWAN	-0.68	-0.14	0.04	-0.7		0.58	-0.8	-0.49	-0.79	-0.52	CWAN
BILL	-0.24	-0.44	-0.04	-0.03	0.58		-0.54	-0.43	-0.5	0.09	BILL
CALX	0.59	0.17	-0.26	0.53	-0.8	-0.54		0.77	0.84	0.35	CALX
NAVN	0.42	0.18	-0.28	0.34	-0.49	-0.43	0.77		0.69	0.3	NAVN
STNE	0.76	0.0	-0.16	0.7	-0.79	-0.5	0.84	0.69		0.5	STNE
ACIW	0.55	-0.28	-0.24	0.81	-0.52	0.09	0.35	0.3	0.5		ACIW
	CLSK	OS	WK	BULL	CWAN	BILL	CALX	NAVN	STNE	ACIW

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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

STNE	+ 0.84	CALX
ACIW	+ 0.81	BULL
NAVN	+ 0.77	CALX
STNE	+ 0.76	CLSK
BULL	+ 0.75	CLSK
STNE	+ 0.7	BULL

High negative correlations

CALX	- 0.8	CWAN
STNE	- 0.79	CWAN
CWAN	- 0.7	BULL
CWAN	- 0.68	CLSK
CALX	- 0.54	BILL
ACIW	- 0.52	CWAN

Risk-Adjusted Indicators

There is a big difference between Bitdeer Stock performing well and Bitdeer Technologies 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 Bitdeer Technologies' 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
CLSK	5.38	(0.33)	0.00	(0.01)	0.00	0.00	12.27	(10.13)	33.02
OS	2.73	(0.02)	0.00	0.06	3.41	(2.90)	5.27	(5.12)	29.57
WK	1.41	(0.03)	(0.04)	0.02	1.73	(1.52)	3.72	(3.07)	9.65
BULL	2.70	(0.92)	0.00	(0.81)	0.00	0.00	4.58	(6.30)	12.33
CWAN	1.83	0.48	0.15	(4.30)	2.21	(2.03)	5.40	(3.95)	14.20
BILL	1.79	(0.10)	(0.02)	0.01	2.36	(1.82)	3.12	(4.25)	18.79
CALX	1.55	(0.27)	0.00	(0.14)	0.00	0.00	2.19	(3.15)	14.05
NAVN	3.91	(0.38)	0.00	(0.21)	0.00	0.00	9.63	(10.70)	21.66
STNE	2.16	(0.36)	0.00	(0.15)	0.00	0.00	4.17	(6.68)	16.52
ACIW	1.20	(0.25)	0.00	(0.31)	0.00	0.00	2.08	(3.30)	9.43

Bitdeer Technologies Corporate Management

Haris Basit	Chief Officer	Profile
Jianchun Liu	Chief Operations	Profile
Xiaojun Fan	Vice Marketing	Profile
Vicky Zhu	Vice Finance	Profile
Alexia Wang	General Counsel	Profile

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