BTBT vs MARA: Correlation
How closely do Bit Digital, Inc. (BTBT) and MARA Holdings, Inc. (MARA) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTBT and MARA?
Across a 3-year window, the weekly returns of BTBT and MARA correlate at 0.70, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.70 over 3. Stretching to 5 years gives 0.72, with an annualized covariance of 5003.2 %².
In BTBT's tracked universe of 24 assets, MARA sits right near the top at #2. The last year tells two different stories: MARA led by 16.9 percentage points, -42.0% for BTBT against -25.1% for MARA.
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 MARA: side by side
| BTBT (Bit Digital, Inc.) | MARA (MARA Holdings, Inc.) | |
|---|---|---|
| 1-year return | -42.0% | -25.1% |
| 5-year return | -87.6% | -70.7% |
| Volatility (ann.) | 85.4% | 83.9% |
| Beta vs S&P 500 | 2.24 | 2.07 |
| Max drawdown (3Y) | -78.1% | -78.3% |
| Market cap | $0.6B | $4.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTBT | MARA |
|---|---|---|
| 2022 | -90.1% | -89.6% |
| 2023 | +605.0% | +586.8% |
| 2024 | -30.7% | -28.6% |
| 2025 | -35.5% | -46.5% |
| 2026 | -15.9% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTBT and MARA good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTBT and MARA?
The BTBT/MARA correlation stands at 0.70 on a 3-year window (1 year: 0.66, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is MARA a good diversifier for BTBT?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 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-mara.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btbt-vs-mara/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTBT correlations · MARA correlations
