BTDR vs HUT: Correlation
How closely do Bitdeer Technologies Group (BTDR) and Hut 8 Corp. (HUT) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTDR and HUT?
On 3 years of weekly data the BTDR/HUT correlation comes out at 0.55, moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.55 over 3. The 5-year figure is 0.34, and annualized covariance runs at 5779.7 %².
In BTDR's tracked universe of 12 assets, HUT sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months HUT outperformed by 247.1 percentage points (-16.4% for BTDR against +230.7% for HUT).
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.
BTDR vs HUT: side by side
| BTDR (Bitdeer Technologies Group) | HUT (Hut 8 Corp.) | |
|---|---|---|
| 1-year return | -16.4% | +230.7% |
| 5-year return | +14.6% | +110.5% |
| Volatility (ann.) | 110.8% | 94.2% |
| Beta vs S&P 500 | 2.58 | 2.26 |
| Max drawdown (3Y) | -79.1% | -65.1% |
| Market cap | $3.1B | $10.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTDR | HUT |
|---|---|---|
| 2022 | +4.6% | -89.2% |
| 2023 | -5.4% | +213.9% |
| 2024 | +119.8% | +53.6% |
| 2025 | -48.3% | +124.2% |
| 2026 | +1.1% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTDR and HUT good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BTDR and HUT?
The BTDR/HUT correlation stands at 0.55 on a 3-year window (1 year: 0.59, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is HUT a good diversifier for BTDR?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btdr-vs-hut.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btdr-vs-hut/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTDR correlations · HUT correlations
