BKH vs DCX: Correlation
Measured on weekly returns over the past three years, Black Hills Corporation (BKH) and Digital Currency X Technology Inc. - Class A (DCX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKH and DCX?
On 3 years of weekly data the BKH/DCX correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. The 5-year figure is -0.16, and annualized covariance runs at -799.6 %².
Among the 13 assets we track against BKH, DCX sits near the bottom by co-movement, at rank #11. The last year tells two different stories: BKH led by 126.5 percentage points, +26.5% for BKH against -100.0% for DCX. Risk is not evenly split, since DCX carries 7.7 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.
BKH vs DCX: side by side
| BKH (Black Hills Corporation) | DCX (Digital Currency X Technology Inc. - Class A) | |
|---|---|---|
| 1-year return | +26.5% | -100.0% |
| 5-year return | +27.4% | -100.0% |
| Volatility (ann.) | 21.5% | 165.4% |
| Beta vs S&P 500 | 0.32 | 2.11 |
| Max drawdown (3Y) | -14.1% | -100.0% |
| Market cap | $5.6B | $0.3B |
| P/E (trailing) | 18.5 | 0.0 |
| Dividend yield | 3.74% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKH | DCX |
|---|---|---|
| 2022 | +3.1% | – |
| 2023 | -19.9% | -93.3% |
| 2024 | +13.6% | -89.0% |
| 2025 | +23.9% | -99.8% |
| 2026 | +8.8% | -83.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKH and DCX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BKH and DCX?
As of 2026-08-27, the correlation of weekly returns between BKH and DCX is -0.23 over 3 years, -0.28 over 1 year and -0.16 over 5 years.
Is DCX a good diversifier for BKH?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BKH correlations · DCX correlations
