Stronghold Digital Correlations

Stocks . USA . 
Stock . Stronghold Digital Mining
SDIG Stock  USD 4.03  0.05  1.26%   
The current 90-days correlation between Stronghold Digital Mining and Terawulf is 0.13 (i.e., Average diversification). The correlation of Stronghold Digital 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.

Stronghold Digital Correlation With Market

Very weak diversification

The correlation between Stronghold Digital Mining and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stronghold Digital Mining and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stronghold Digital 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 gross domestic product.

Moving together with Stronghold Stock

  0.73ANY Sphere 3D Corp Buyout TrendPairCorr
  0.66GPUS Hyperscale Data, Symbol ChangePairCorr
  0.89GRYP Gryphon Digital Mining Symbol ChangePairCorr
  0.65SLNH Soluna HoldingsPairCorr
  0.79BTBT Bit Digital Aggressive PushPairCorr
  0.79CLSK CleanSpark Buyout TrendPairCorr
  0.7S SentinelOnePairCorr
  0.71IT GartnerPairCorr

Moving against Stronghold Stock

  0.72NTRP NextTrip Symbol ChangePairCorr
  0.64WKEY Wisekey InternationalPairCorr
  0.41FUBO Fubotv IncPairCorr
  0.37VCSA Vacasa IncPairCorr
  0.37MFH Mercurity Fintech Holding TrendingPairCorr
  0.71BB BlackBerry Downward RallyPairCorr
  0.6GB Global Blue GroupPairCorr
  0.34KD Kyndryl Holdings Sell-off TrendPairCorr
  0.34NA Nano LabsPairCorr

Related Correlations Analysis

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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   
ARBKF
+ 0.97
ARBK
CLSK
+ 0.9
BITF
CLSK
+ 0.78
WULF
CIFR
+ 0.77
WULF
BITF
+ 0.75
WULF
CLSK
+ 0.71
CIFR
  
High negative correlations   
ARBKF
- 0.34
IREN
ARBK
- 0.31
IREN

Risk-Adjusted Indicators

There is a big difference between Stronghold Stock performing well and Stronghold Digital 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 Stronghold Digital'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.

Stronghold Digital Corporate Management

Robert LovettVice ComplianceProfile
Matthew SmithCFO DirectorProfile
Richard ShafferSenior ManagementProfile
Ryan WeberChief OfficerProfile
Charles TalcottDirector OperationsProfile
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