BTBT vs HIVE: Correlation
Measured on weekly returns over the past three years, Bit Digital, Inc. (BTBT) and HIVE Digital Technologies Ltd (HIVE) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTBT and HIVE?
Across a 3-year window, the weekly returns of BTBT and HIVE correlate at 0.73, strong. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 5844.0 %².
In BTBT's tracked universe of 24 assets, HIVE sits right near the top at #1. Correlation aside, the last 12 months split them widely, with HIVE ahead by 46.1 points (-42.0% versus +4.1%).
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.
BTBT vs HIVE: side by side
| BTBT (Bit Digital, Inc.) | HIVE (HIVE Digital Technologies Ltd) | |
|---|---|---|
| 1-year return | -42.0% | +4.1% |
| 5-year return | -87.6% | -80.7% |
| Volatility (ann.) | 85.4% | 94.1% |
| Beta vs S&P 500 | 2.24 | 2.26 |
| Max drawdown (3Y) | -78.1% | -77.1% |
| Market cap | $0.6B | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTBT | HIVE |
|---|---|---|
| 2022 | -90.1% | -89.1% |
| 2023 | +605.0% | +214.6% |
| 2024 | -30.7% | -37.1% |
| 2025 | -35.5% | -9.5% |
| 2026 | -15.9% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTBT and HIVE good diversifiers for each other?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BTBT and HIVE?
The BTBT/HIVE correlation stands at 0.73 on a 3-year window (1 year: 0.76, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is HIVE a good diversifier for BTBT?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.73 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/btbt-vs-hive.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btbt-vs-hive/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTBT correlations · HIVE correlations
