BTDR vs MARA: Correlation
How closely do Bitdeer Technologies Group (BTDR) and MARA Holdings, Inc. (MARA) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTDR and MARA?
Over the past 3 years, BTDR and MARA moved with a correlation of 0.56, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.67 versus 0.56 over 3 years. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 5217.8 %².
Few assets follow BTDR as closely as MARA, which ranks #1 of 12 tracked partners. Over the last 12 months BTDR came out ahead by 8.7 percentage points (-16.4% against -25.1%).
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 MARA: side by side
| BTDR (Bitdeer Technologies Group) | MARA (MARA Holdings, Inc.) | |
|---|---|---|
| 1-year return | -16.4% | -25.1% |
| 5-year return | +14.6% | -70.7% |
| Volatility (ann.) | 110.8% | 83.9% |
| Beta vs S&P 500 | 2.58 | 2.07 |
| Max drawdown (3Y) | -79.1% | -78.3% |
| Market cap | $3.1B | $4.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTDR | MARA |
|---|---|---|
| 2022 | +4.6% | -89.6% |
| 2023 | -5.4% | +586.8% |
| 2024 | +119.8% | -28.6% |
| 2025 | -48.3% | -46.5% |
| 2026 | +1.1% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTDR and MARA good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTDR and MARA?
The BTDR/MARA correlation stands at 0.56 on a 3-year window (1 year: 0.67, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is MARA a good diversifier for BTDR?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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-mara.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btdr-vs-mara/)
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Related comparisons
Hubs: BTDR correlations · MARA correlations
