BTCT vs CHMI: Correlation
Measured on weekly returns over the past three years, BTC Digital Ltd. (BTCT) and Cherry Hill Mortgage Investment Corporation (CHMI) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCT and CHMI?
Across a 3-year window, the weekly returns of BTCT and CHMI correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.02 versus -0.22 over 3 years. Stretching to 5 years gives -0.17, with an annualized covariance of -4884.1 %².
By 3-year correlation, CHMI places #26 of the 52 assets tracked against BTCT. Correlation aside, the last 12 months split them widely, with CHMI ahead by 39.3 points (-20.2% versus +19.1%). Risk is not evenly split, since BTCT carries 15.0 times the volatility of the other side.
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 CHMI: side by side
| BTCT (BTC Digital Ltd.) | CHMI (Cherry Hill Mortgage Investment Corporation) | |
|---|---|---|
| 1-year return | -20.2% | +19.1% |
| 5-year return | -99.5% | -27.0% |
| Volatility (ann.) | 571.6% | 38.1% |
| Beta vs S&P 500 | -2.21 | 0.85 |
| Max drawdown (3Y) | -97.8% | -32.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 13.9 |
| Dividend yield | 0.00% | 13.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTCT | CHMI |
|---|---|---|
| 2022 | -97.6% | -17.2% |
| 2023 | +33.9% | -18.9% |
| 2024 | -0.8% | -21.9% |
| 2025 | -72.8% | +14.9% |
| 2026 | +61.5% | +24.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCT and CHMI good diversifiers for each other?
Yes. With a correlation of -0.22, BTCT and CHMI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTCT and CHMI?
As of 2026-08-27, the correlation of weekly returns between BTCT and CHMI is -0.22 over 3 years, -0.02 over 1 year and -0.17 over 5 years.
Is CHMI a good diversifier for BTCT?
Yes. With a correlation of -0.22, BTCT and CHMI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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
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Related comparisons
Hubs: BTCT correlations · CHMI correlations
