ABTS vs CL: Correlation
Measured on weekly returns over the past three years, Abits Group Inc (ABTS) and Colgate-Palmolive (CL) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABTS and CL?
Across a 3-year window, the weekly returns of ABTS and CL correlate at -0.28, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Stretching to 5 years gives -0.20, with an annualized covariance of -3235.3 %².
Within ABTS's tracked universe of 48 assets, CL comes in at #39 by 3-year correlation. The last year tells two different stories: CL led by 74.8 percentage points, -64.4% for ABTS against +10.4% for CL. One caveat on sizing: ABTS is 40.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ABTS vs CL: side by side
| ABTS (Abits Group Inc) | CL (Colgate-Palmolive) | |
|---|---|---|
| 1-year return | -64.4% | +10.4% |
| 5-year return | -81.7% | +32.0% |
| Volatility (ann.) | 689.2% | 16.9% |
| Beta vs S&P 500 | -4.02 | 0.17 |
| Max drawdown (3Y) | -92.1% | -29.0% |
| Market cap | – | $72.5B |
| P/E (trailing) | – | 36.2 |
| Dividend yield | 0.00% | 2.27% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | ABTS | CL |
|---|---|---|
| 2022 | -84.2% | -5.4% |
| 2023 | +152.8% | +3.8% |
| 2024 | -39.6% | +16.6% |
| 2025 | +647.5% | -11.0% |
| 2026 | -73.8% | +17.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABTS and CL good diversifiers for each other?
Yes. With a correlation of -0.28, ABTS and CL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ABTS and CL?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.31 over the last year and -0.20 over 5 years.
Is CL a good diversifier for ABTS?
Yes. With a correlation of -0.28, ABTS and CL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ABTS correlations · CL correlations
