BTDR vs KEEL: Correlation
How closely do Bitdeer Technologies Group (BTDR) and Keel Infrastructure Corp. (KEEL) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTDR and KEEL?
On 3 years of weekly data the BTDR/KEEL correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.33, and annualized covariance runs at 6531.2 %².
By 3-year correlation, KEEL places #4 of the 12 assets tracked against BTDR. The last year tells two different stories: KEEL led by 178.3 percentage points, -16.4% for BTDR against +161.9% for KEEL.
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 KEEL: side by side
| BTDR (Bitdeer Technologies Group) | KEEL (Keel Infrastructure Corp.) | |
|---|---|---|
| 1-year return | -16.4% | +161.9% |
| 5-year return | +14.6% | -41.1% |
| Volatility (ann.) | 110.8% | 108.4% |
| Beta vs S&P 500 | 2.58 | 2.18 |
| Max drawdown (3Y) | -79.1% | -81.1% |
| Market cap | $3.1B | $2.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTDR | KEEL |
|---|---|---|
| 2022 | +4.6% | -91.3% |
| 2023 | -5.4% | +561.4% |
| 2024 | +119.8% | -48.8% |
| 2025 | -48.3% | +57.7% |
| 2026 | +1.1% | +49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTDR and KEEL good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTDR and KEEL?
As of 2026-08-27, the correlation of weekly returns between BTDR and KEEL is 0.54 over 3 years, 0.62 over 1 year and 0.33 over 5 years.
Is KEEL a good diversifier for BTDR?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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/btdr-vs-keel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btdr-vs-keel/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BTDR correlations · KEEL correlations
