BTCT vs PLUS: Correlation
How closely do BTC Digital Ltd. (BTCT) and ePlus inc. (PLUS) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCT and PLUS?
On 3 years of weekly data the BTCT/PLUS correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.06) than the 3-year average (-0.32). The 5-year figure is -0.21, and annualized covariance runs at -6061.8 %².
Within BTCT's tracked universe of 52 assets, PLUS comes in at #46 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PLUS ahead by 42.5 points (-20.2% versus +22.3%). Risk is not evenly split, since BTCT carries 17.2 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 PLUS: side by side
| BTCT (BTC Digital Ltd.) | PLUS (ePlus inc.) | |
|---|---|---|
| 1-year return | -20.2% | +22.3% |
| 5-year return | -99.5% | +64.0% |
| Volatility (ann.) | 571.6% | 33.2% |
| Beta vs S&P 500 | -2.21 | 1.04 |
| Max drawdown (3Y) | -97.8% | -46.1% |
| Market cap | – | $2.3B |
| P/E (trailing) | – | 18.8 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTCT | PLUS |
|---|---|---|
| 2022 | -97.6% | -17.8% |
| 2023 | +33.9% | +80.3% |
| 2024 | -0.8% | -7.5% |
| 2025 | -72.8% | +19.4% |
| 2026 | +61.5% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCT and PLUS good diversifiers for each other?
Yes. With a correlation of -0.32, BTCT and PLUS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTCT and PLUS?
The BTCT/PLUS correlation stands at -0.32 on a 3-year window (1 year: -0.06, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is PLUS a good diversifier for BTCT?
Yes. With a correlation of -0.32, BTCT and PLUS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
A reading of -0.32 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 · PLUS correlations
