AWX vs BTCT: Correlation
Measured on weekly returns over the past three years, Avalon Holdings Corporation (AWX) and BTC Digital Ltd. (BTCT) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWX and BTCT?
Over the past 3 years, AWX and BTCT moved with a correlation of 0.40, which is moderate. The past 12 months show a weaker link (-0.10) than the 3-year average (0.40). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 8086.0 %².
BTCT is one of the assets that tracks AWX most closely: it ranks #2 out of the 12 assets we track against AWX. Correlation aside, the last 12 months split them widely, with AWX ahead by 29.1 points (+8.9% versus -20.2%). One caveat on sizing: BTCT is 16.3 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.
AWX vs BTCT: side by side
| AWX (Avalon Holdings Corporation) | BTCT (BTC Digital Ltd.) | |
|---|---|---|
| 1-year return | +8.9% | -20.2% |
| 5-year return | -37.9% | -99.5% |
| Volatility (ann.) | 35.1% | 571.6% |
| Beta vs S&P 500 | 0.10 | -2.21 |
| Max drawdown (3Y) | -51.9% | -97.8% |
| Market cap | – | – |
| P/E (trailing) | 9.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWX | BTCT |
|---|---|---|
| 2022 | -23.8% | -97.6% |
| 2023 | -13.1% | +33.9% |
| 2024 | +61.9% | -0.8% |
| 2025 | -30.5% | -72.8% |
| 2026 | +0.4% | +61.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWX and BTCT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AWX and BTCT?
The AWX/BTCT correlation stands at 0.40 on a 3-year window (1 year: -0.10, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is BTCT a good diversifier for AWX?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/awx-vs-btct.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/awx-vs-btct/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AWX correlations · BTCT correlations
