BGDE vs HUT: Correlation
Big Digital Energy, Inc. (BGDE) and Hut 8 Corp. (HUT) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGDE and HUT?
On 3 years of weekly data the BGDE/HUT correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.53 over 3. The 5-year figure is 0.44, and annualized covariance runs at 9093.9 %².
Few assets follow BGDE as closely as HUT, which ranks #2 of 11 tracked partners. The last year tells two different stories: HUT led by 244.0 percentage points, -13.3% for BGDE against +230.7% for HUT. Note the risk asymmetry: BGDE runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BGDE vs HUT: side by side
| BGDE (Big Digital Energy, Inc.) | HUT (Hut 8 Corp.) | |
|---|---|---|
| 1-year return | -13.3% | +230.7% |
| 5-year return | -99.6% | +110.5% |
| Volatility (ann.) | 181.6% | 94.2% |
| Beta vs S&P 500 | 4.23 | 2.26 |
| Max drawdown (3Y) | -98.0% | -65.1% |
| Market cap | – | $10.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGDE | HUT |
|---|---|---|
| 2022 | -96.5% | -89.2% |
| 2023 | +131.9% | +213.9% |
| 2024 | -74.1% | +53.6% |
| 2025 | -74.6% | +124.2% |
| 2026 | +72.9% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGDE and HUT good diversifiers for each other?
Only partially. A correlation of 0.53 means BGDE and HUT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BGDE and HUT?
The BGDE/HUT correlation stands at 0.53 on a 3-year window (1 year: 0.60, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is HUT a good diversifier for BGDE?
Only partially. A correlation of 0.53 means BGDE and HUT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bgde-vs-hut.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgde-vs-hut/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BGDE correlations · HUT correlations
