BTCT vs HALO: Correlation
How closely do BTC Digital Ltd. (BTCT) and Halozyme Therapeutics, Inc. (HALO) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCT and HALO?
Over the past 3 years, BTCT and HALO moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.09 versus -0.34 over 3 years. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -8119.2 %².
Among the 52 assets we track against BTCT, HALO ranks #47 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HALO outperformed by 66.3 percentage points (-20.2% for BTCT against +46.1% for HALO). One caveat on sizing: BTCT is 13.8 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 HALO: side by side
| BTCT (BTC Digital Ltd.) | HALO (Halozyme Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -20.2% | +46.1% |
| 5-year return | -99.5% | +154.8% |
| Volatility (ann.) | 571.6% | 41.5% |
| Beta vs S&P 500 | -2.21 | 0.54 |
| Max drawdown (3Y) | -97.8% | -33.9% |
| Market cap | – | $12.1B |
| P/E (trailing) | – | 31.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTCT | HALO |
|---|---|---|
| 2022 | -97.6% | +41.5% |
| 2023 | +33.9% | -35.0% |
| 2024 | -0.8% | +29.4% |
| 2025 | -72.8% | +40.8% |
| 2026 | +61.5% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCT and HALO good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between BTCT and HALO?
As of 2026-08-27, the correlation of weekly returns between BTCT and HALO is -0.34 over 3 years, 0.09 over 1 year and -0.25 over 5 years.
Is HALO a good diversifier for BTCT?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 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: BTCT correlations · HALO correlations
