BTCT vs FAX: Correlation
How closely do BTC Digital Ltd. (BTCT) and abrdn Asia-Pacific Income Fund, Inc. (FAX) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCT and FAX?
Over the past 3 years, BTCT and FAX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.11) runs above the 3-year figure (-0.25). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -1986.5 %².
Within BTCT's tracked universe of 52 assets, FAX comes in at #31 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FAX ahead by 22.5 points (-20.2% versus +2.3%). Note the risk asymmetry: BTCT runs 40.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 FAX: side by side
| BTCT (BTC Digital Ltd.) | FAX (abrdn Asia-Pacific Income Fund, Inc.) | |
|---|---|---|
| 1-year return | -20.2% | +2.3% |
| 5-year return | -99.5% | +5.2% |
| Volatility (ann.) | 571.6% | 14.2% |
| Beta vs S&P 500 | -2.21 | 0.40 |
| Max drawdown (3Y) | -97.8% | -13.2% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 14.4 |
| Dividend yield | 0.00% | 13.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTCT | FAX |
|---|---|---|
| 2022 | -97.6% | -22.7% |
| 2023 | +33.9% | +16.8% |
| 2024 | -0.8% | +2.5% |
| 2025 | -72.8% | +18.2% |
| 2026 | +61.5% | +3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCT and FAX good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between BTCT and FAX?
The BTCT/FAX correlation stands at -0.25 on a 3-year window (1 year: 0.11, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is FAX a good diversifier for BTCT?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BTCT correlations · FAX correlations
