AREN vs BTCS: Correlation
How closely do The Arena Group Holdings, Inc. (AREN) and BTCS Inc. (BTCS) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREN and BTCS?
On 3 years of weekly data the AREN/BTCS correlation comes out at 0.59, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.59). The 5-year figure is 0.50, and annualized covariance runs at 14986.0 %².
Few assets follow AREN as closely as BTCS, which ranks #3 of 22 tracked partners. Their recent paths diverged sharply: over the last 12 months BTCS outperformed by 22.5 percentage points (-84.8% for AREN against -62.3% for BTCS).
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.
AREN vs BTCS: side by side
| AREN (The Arena Group Holdings, Inc.) | BTCS (BTCS Inc.) | |
|---|---|---|
| 1-year return | -84.8% | -62.3% |
| 5-year return | -93.0% | -79.2% |
| Volatility (ann.) | 157.6% | 161.4% |
| Beta vs S&P 500 | 0.49 | 0.34 |
| Max drawdown (3Y) | -91.7% | -84.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AREN | BTCS |
|---|---|---|
| 2022 | -24.6% | -79.6% |
| 2023 | -77.6% | +158.7% |
| 2024 | -43.7% | +51.5% |
| 2025 | +198.5% | +8.1% |
| 2026 | -76.5% | -39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREN and BTCS good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AREN and BTCS?
The AREN/BTCS correlation stands at 0.59 on a 3-year window (1 year: 0.18, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is BTCS a good diversifier for AREN?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: AREN correlations · BTCS correlations
