BTBT vs WULF: Correlation
Measured on weekly returns over the past three years, Bit Digital, Inc. (BTBT) and TeraWulf Inc. (WULF) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTBT and WULF?
Across a 3-year window, the weekly returns of BTBT and WULF correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 5577.7 %².
Among the 24 assets we track against BTBT, WULF ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WULF outperformed by 122.6 percentage points (-42.0% for BTBT against +80.6% for WULF).
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 WULF: side by side
| BTBT (Bit Digital, Inc.) | WULF (TeraWulf Inc.) | |
|---|---|---|
| 1-year return | -42.0% | +80.6% |
| 5-year return | -87.6% | -32.7% |
| Volatility (ann.) | 85.4% | 105.8% |
| Beta vs S&P 500 | 2.24 | 2.76 |
| Max drawdown (3Y) | -78.1% | -74.6% |
| Market cap | $0.6B | $8.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTBT | WULF |
|---|---|---|
| 2022 | -90.1% | -95.5% |
| 2023 | +605.0% | +258.2% |
| 2024 | -30.7% | +135.8% |
| 2025 | -35.5% | +103.0% |
| 2026 | -15.9% | +43.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTBT and WULF good diversifiers for each other?
To a limited degree. At 0.62 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 WULF?
The BTBT/WULF correlation stands at 0.62 on a 3-year window (1 year: 0.60, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is WULF a good diversifier for BTBT?
To a limited degree. At 0.62 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 0.62 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.
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Related comparisons
Hubs: BTBT correlations · WULF correlations
