Bitdeer Technologies Correlations

BTDR Stock

14.27 2.04 16.68%

The current 90-days correlation between Bitdeer Technologies and Addus HomeCare is 0.16 (i.e., Average 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

Very weak diversification

The correlation between Bitdeer Technologies Group and DJI is 0.43 (i.e., Very 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.

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 unemployment.

Moving together with Bitdeer Stock

0.84	DJCO	Daily Journal Corp	Pair Corr
0.87	AI	C3 Ai Inc Earnings Call This Week	Pair Corr
0.88	AZ	A2Z Smart Technologies	Pair Corr
0.85	BL	Blackline	Pair Corr
0.62	DV	DoubleVerify Holdings	Pair Corr
0.73	EB	Eventbrite Class A	Pair Corr
0.86	KC	Kingsoft Cloud Holdings Tech Boost	Pair Corr
0.91	ML	MoneyLion Tech Boost	Pair Corr
0.73	PD	Pagerduty	Pair Corr
0.92	WK	Workiva	Pair Corr
0.87	ZM	Zoom Video Communications	Pair Corr
0.87	DOCU	DocuSign Earnings Call This Week	Pair Corr
0.85	DOMO	Domo Inc	Pair Corr
0.9	VERX	Vertex	Pair Corr
0.91	DSGX	Descartes Systems Earnings Call Today	Pair Corr
0.83	DUOL	Duolingo	Pair Corr
0.82	DUOT	Duos Technologies	Pair Corr
0.75	VMEO	Vimeo Inc	Pair Corr
0.85	VTSI	VirTra Inc	Pair Corr
0.89	EGHT	8x8 Common Stock	Pair Corr
0.85	ENFN	Enfusion	Pair Corr

Moving against Bitdeer Stock

0.56	VERB	VERB TECHNOLOGY PANY Tech Boost	Pair Corr
0.79	XELAP	Exela Technologies	Pair Corr
0.75	EVOL	Evolving Systems	Pair Corr
0.67	ETWO	E2open Parent Holdings	Pair Corr
0.65	VTEX	VTEX	Pair Corr
0.53	WALDW	Waldencast Acquisition	Pair Corr
0.47	ILLRW	Triller Group Symbol Change	Pair Corr
0.36	ELCO	Elcom International	Pair Corr
0.32	WALD	Waldencast Acquisition	Pair Corr

Related Correlations Analysis

	ADUS	BOOT	SKX	ROST	SLG	LIVE	GAP	HVT
ADUS		0.55	0.48	0.41	-0.4	0.53	-0.26	0.69	ADUS
BOOT	0.55		0.32	0.37	-0.32	0.24	-0.29	0.68	BOOT
SKX	0.48	0.32		0.53	-0.79	0.81	-0.24	0.74	SKX
ROST	0.41	0.37	0.53		-0.41	0.59	0.06	0.67	ROST
SLG	-0.4	-0.32	-0.79	-0.41		-0.88	0.51	-0.69	SLG
LIVE	0.53	0.24	0.81	0.59	-0.88		-0.49	0.76	LIVE
GAP	-0.26	-0.29	-0.24	0.06	0.51	-0.49		-0.27	GAP
HVT	0.69	0.68	0.74	0.67	-0.69	0.76	-0.27		HVT
	ADUS	BOOT	SKX	ROST	SLG	LIVE	GAP	HVT

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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

LIVE	+ 0.81	SKX
HVT	+ 0.76	LIVE
HVT	+ 0.74	SKX
HVT	+ 0.69	ADUS
HVT	+ 0.68	BOOT
HVT	+ 0.67	ROST

High negative correlations

LIVE	- 0.88	SLG
SLG	- 0.79	SKX
HVT	- 0.69	SLG
GAP	- 0.49	LIVE
SLG	- 0.41	ROST
SLG	- 0.4	ADUS

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
ADUS	1.26	(0.25)	0.00	(0.10)	0.00	0.00	2.50	(2.51)	7.98
BOOT	1.89	(0.02)	(0.02)	0.09	3.93	(1.85)	3.67	(3.12)	29.69
SKX	1.53	(0.14)	0.00	(0.23)	0.00	0.00	3.29	(3.41)	11.05
ROST	1.06	0.00	(0.05)	0.13	1.40	(1.04)	2.46	(2.62)	6.21
SLG	1.37	0.15	0.09	0.29	1.43	(1.53)	3.38	(2.50)	9.86
LIVE	2.61	(0.91)	0.00	(1.06)	0.00	0.00	5.98	(5.86)	16.34
GAP	1.98	(0.01)	0.01	0.12	2.17	(2.27)	4.19	(3.80)	15.58
HVT	1.71	(0.35)	0.00	(0.14)	0.00	0.00	4.42	(2.97)	12.20

Bitdeer Technologies Corporate Executives

Elected by the shareholders, the Bitdeer Technologies' board of directors comprises two types of representatives: Bitdeer Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bitdeer. The board's role is to monitor Bitdeer Technologies' management team and ensure that shareholders' interests are well served. Bitdeer Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Bitdeer Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.

Jianchun Liu

Head CFO

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