BTBT vs KEEL: Correlation
Measured on weekly returns over the past three years, Bit Digital, Inc. (BTBT) and Keel Infrastructure Corp. (KEEL) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTBT and KEEL?
Over the past 3 years, BTBT and KEEL moved with a correlation of 0.61, which is strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 5674.6 %².
By 3-year correlation, KEEL places #7 of the 24 assets tracked against BTBT. The last year tells two different stories: KEEL led by 203.9 percentage points, -42.0% for BTBT against +161.9% for KEEL.
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 KEEL: side by side
| BTBT (Bit Digital, Inc.) | KEEL (Keel Infrastructure Corp.) | |
|---|---|---|
| 1-year return | -42.0% | +161.9% |
| 5-year return | -87.6% | -41.1% |
| Volatility (ann.) | 85.4% | 108.4% |
| Beta vs S&P 500 | 2.24 | 2.18 |
| Max drawdown (3Y) | -78.1% | -81.1% |
| Market cap | $0.6B | $2.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTBT | KEEL |
|---|---|---|
| 2022 | -90.1% | -91.3% |
| 2023 | +605.0% | +561.4% |
| 2024 | -30.7% | -48.8% |
| 2025 | -35.5% | +57.7% |
| 2026 | -15.9% | +49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTBT and KEEL good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTBT and KEEL?
The BTBT/KEEL correlation stands at 0.61 on a 3-year window (1 year: 0.70, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is KEEL a good diversifier for BTBT?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
A reading of 0.61 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btbt-vs-keel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btbt-vs-keel/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BTBT correlations · KEEL correlations
