BTDR vs NCTY: Correlation
Measured on weekly returns over the past three years, Bitdeer Technologies Group (BTDR) and The9 Limited - American Depository Shares (NCTY) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTDR and NCTY?
Across a 3-year window, the weekly returns of BTDR and NCTY correlate at 0.34, moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.34). Stretching to 5 years gives 0.19, with an annualized covariance of 3536.6 %².
Among the 12 assets we track against BTDR, NCTY ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BTDR ahead by 29.3 points (-16.4% versus -45.7%).
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 NCTY: side by side
| BTDR (Bitdeer Technologies Group) | NCTY (The9 Limited - American Depository Shares) | |
|---|---|---|
| 1-year return | -16.4% | -45.7% |
| 5-year return | +14.6% | -97.0% |
| Volatility (ann.) | 110.8% | 95.1% |
| Beta vs S&P 500 | 2.58 | 0.96 |
| Max drawdown (3Y) | -79.1% | -83.1% |
| Market cap | $3.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTDR | NCTY |
|---|---|---|
| 2022 | +4.6% | -91.5% |
| 2023 | -5.4% | +31.4% |
| 2024 | +119.8% | +94.1% |
| 2025 | -48.3% | -56.2% |
| 2026 | +1.1% | -26.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTDR and NCTY good diversifiers for each other?
Reasonably. At 0.34, BTDR and NCTY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BTDR and NCTY?
As of 2026-08-27, the correlation of weekly returns between BTDR and NCTY is 0.34 over 3 years, 0.19 over 1 year and 0.19 over 5 years.
Is NCTY a good diversifier for BTDR?
Reasonably. At 0.34, BTDR and NCTY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btdr-vs-ncty.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btdr-vs-ncty/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTDR correlations · NCTY correlations
