BTBT vs ORIO: Correlation
Measured on weekly returns over the past three years, Bit Digital, Inc. (BTBT) and Orion Digital Corp. (ORIO) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTBT and ORIO?
Across a 3-year window, the weekly returns of BTBT and ORIO correlate at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 3723.1 %².
Among the 24 assets we track against BTBT, ORIO ranks #9 by 3-year correlation. The trailing year gives BTBT the advantage: -42.0% versus -54.7%, a 12.7-point spread.
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 ORIO: side by side
| BTBT (Bit Digital, Inc.) | ORIO (Orion Digital Corp.) | |
|---|---|---|
| 1-year return | -42.0% | -54.7% |
| 5-year return | -87.6% | -94.6% |
| Volatility (ann.) | 85.4% | 79.6% |
| Beta vs S&P 500 | 2.24 | 2.19 |
| Max drawdown (3Y) | -78.1% | -75.9% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTBT | ORIO |
|---|---|---|
| 2022 | -90.1% | -84.5% |
| 2023 | +605.0% | +15.9% |
| 2024 | -30.7% | -26.1% |
| 2025 | -35.5% | -21.3% |
| 2026 | -15.9% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTBT and ORIO good diversifiers for each other?
Only partially. A correlation of 0.55 means BTBT and ORIO 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 BTBT and ORIO?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.55 over the last year and 0.57 over 5 years.
Is ORIO a good diversifier for BTBT?
Only partially. A correlation of 0.55 means BTBT and ORIO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 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-orio.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BTBT correlations · ORIO correlations
