BTCT vs ICFI: Correlation
How closely do BTC Digital Ltd. (BTCT) and ICF International, Inc. (ICFI) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCT and ICFI?
On 3 years of weekly data the BTCT/ICFI correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.05) than the 3-year average (-0.26). The 5-year figure is -0.21, and annualized covariance runs at -5529.5 %².
By 3-year correlation, ICFI places #35 of the 52 assets tracked against BTCT. The trailing year gives ICFI the advantage: -20.2% versus -9.4%, a 10.8-point spread. Note the risk asymmetry: BTCT runs 15.1 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 ICFI: side by side
| BTCT (BTC Digital Ltd.) | ICFI (ICF International, Inc.) | |
|---|---|---|
| 1-year return | -20.2% | -9.4% |
| 5-year return | -99.5% | -2.1% |
| Volatility (ann.) | 571.6% | 37.8% |
| Beta vs S&P 500 | -2.21 | 0.60 |
| Max drawdown (3Y) | -97.8% | -65.6% |
| Market cap | – | $1.6B |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 0.00% | 0.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTCT | ICFI |
|---|---|---|
| 2022 | -97.6% | -2.9% |
| 2023 | +33.9% | +36.0% |
| 2024 | -0.8% | -10.8% |
| 2025 | -72.8% | -28.0% |
| 2026 | +61.5% | +5.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCT and ICFI good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BTCT and ICFI?
The BTCT/ICFI correlation stands at -0.26 on a 3-year window (1 year: 0.05, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is ICFI a good diversifier for BTCT?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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-icfi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btct-vs-icfi/)
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Related comparisons
Hubs: BTCT correlations · ICFI correlations
