BTCT vs CD: Correlation
How closely do BTC Digital Ltd. (BTCT) and Chaince Digital Holdings Inc. - American (CD) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCT and CD?
Over the past 3 years, BTCT and CD moved with a correlation of 0.58, which is moderate. Lately the two have drifted apart, with the 1-year correlation at -0.01 versus 0.58 over 3 years. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 62667.5 %².
Among the 52 assets we track against BTCT, CD ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BTCT ahead by 19.6 points (-20.2% versus -39.8%). One caveat on sizing: BTCT is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BTCT vs CD: side by side
| BTCT (BTC Digital Ltd.) | CD (Chaince Digital Holdings Inc. - American) | |
|---|---|---|
| 1-year return | -20.2% | -39.8% |
| 5-year return | -99.5% | +1.2% |
| Volatility (ann.) | 571.6% | 189.9% |
| Beta vs S&P 500 | -2.21 | 1.02 |
| Max drawdown (3Y) | -97.8% | -92.6% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTCT | CD |
|---|---|---|
| 2022 | -97.6% | -64.8% |
| 2023 | +33.9% | +109.5% |
| 2024 | -0.8% | +162.7% |
| 2025 | -72.8% | -27.2% |
| 2026 | +61.5% | -31.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCT and CD good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTCT and CD?
As of 2026-08-27, the correlation of weekly returns between BTCT and CD is 0.58 over 3 years, -0.01 over 1 year and 0.49 over 5 years.
Is CD a good diversifier for BTCT?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btct-vs-cd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btct-vs-cd/)
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Related comparisons
Hubs: BTCT correlations · CD correlations
