BTCT vs MVST: Correlation
How closely do BTC Digital Ltd. (BTCT) and Microvast Holdings, Inc. (MVST) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCT and MVST?
Across a 3-year window, the weekly returns of BTCT and MVST correlate at 0.81, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.11) runs below the 3-year figure (0.81). Stretching to 5 years gives 0.75, with an annualized covariance of 96378.5 %².
MVST is one of the assets that tracks BTCT most closely: it ranks #2 out of the 52 assets we track against BTCT. Correlation aside, the last 12 months split them widely, with BTCT ahead by 51.0 points (-20.2% versus -71.2%). Risk is not evenly split, since BTCT carries 2.7 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 MVST: side by side
| BTCT (BTC Digital Ltd.) | MVST (Microvast Holdings, Inc.) | |
|---|---|---|
| 1-year return | -20.2% | -71.2% |
| 5-year return | -99.5% | -91.6% |
| Volatility (ann.) | 571.6% | 209.2% |
| Beta vs S&P 500 | -2.21 | 0.26 |
| Max drawdown (3Y) | -97.8% | -92.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTCT | MVST |
|---|---|---|
| 2022 | -97.6% | -73.0% |
| 2023 | +33.9% | -8.5% |
| 2024 | -0.8% | +47.9% |
| 2025 | -72.8% | +35.3% |
| 2026 | +61.5% | -72.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCT and MVST good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BTCT and MVST?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.11 over the last year and 0.75 over 5 years.
Is MVST a good diversifier for BTCT?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
On the −1 to +1 scale, 0.81 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.
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Related comparisons
Hubs: BTCT correlations · MVST correlations
