ABTS vs PTGX: Correlation
Measured on weekly returns over the past three years, Abits Group Inc (ABTS) and Protagonist Therapeutics, Inc. (PTGX) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABTS and PTGX?
On 3 years of weekly data the ABTS/PTGX correlation comes out at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.08 versus 0.43 over 3 years. The 5-year figure is 0.22, and annualized covariance runs at 15535.7 %².
Among the 48 assets we track against ABTS, PTGX ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PTGX ahead by 207.8 points (-64.4% versus +143.4%). One caveat on sizing: ABTS is 13.0 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 PTGX: side by side
| ABTS (Abits Group Inc) | PTGX (Protagonist Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -64.4% | +143.4% |
| 5-year return | -81.7% | +219.7% |
| Volatility (ann.) | 689.2% | 53.0% |
| Beta vs S&P 500 | -4.02 | 0.49 |
| Max drawdown (3Y) | -92.1% | -31.6% |
| Market cap | – | $9.7B |
| P/E (trailing) | – | 145.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABTS | PTGX |
|---|---|---|
| 2022 | -84.2% | -68.1% |
| 2023 | +152.8% | +110.2% |
| 2024 | -39.6% | +68.3% |
| 2025 | +647.5% | +126.3% |
| 2026 | -73.8% | +71.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABTS and PTGX good diversifiers for each other?
Reasonably. At 0.43, ABTS and PTGX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ABTS and PTGX?
As of 2026-08-27, the correlation of weekly returns between ABTS and PTGX is 0.43 over 3 years, -0.08 over 1 year and 0.22 over 5 years.
Is PTGX a good diversifier for ABTS?
Reasonably. At 0.43, ABTS and PTGX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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 · PTGX correlations
