ABTS vs ITW: Correlation
How closely do Abits Group Inc (ABTS) and Illinois Tool Works (ITW) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABTS and ITW?
Across a 3-year window, the weekly returns of ABTS and ITW correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.21). Stretching to 5 years gives -0.12, with an annualized covariance of -2766.2 %².
Among the 48 assets we track against ABTS, ITW ranks #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ITW ahead by 72.6 points (-64.4% versus +8.2%). Risk is not evenly split, since ABTS carries 36.3 times the volatility of the other side.
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 ITW: side by side
| ABTS (Abits Group Inc) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | -64.4% | +8.2% |
| 5-year return | -81.7% | +36.1% |
| Volatility (ann.) | 689.2% | 19.0% |
| Beta vs S&P 500 | -4.02 | 0.64 |
| Max drawdown (3Y) | -92.1% | -20.6% |
| Market cap | – | $80.2B |
| P/E (trailing) | – | 25.8 |
| Dividend yield | 0.00% | 2.26% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ABTS | ITW |
|---|---|---|
| 2022 | -84.2% | -8.5% |
| 2023 | +152.8% | +21.6% |
| 2024 | -39.6% | -1.0% |
| 2025 | +647.5% | -0.4% |
| 2026 | -73.8% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABTS and ITW good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between ABTS and ITW?
As of 2026-08-27, the correlation of weekly returns between ABTS and ITW is -0.21 over 3 years, -0.09 over 1 year and -0.12 over 5 years.
Is ITW a good diversifier for ABTS?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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 · ITW correlations
