BTDR vs NOC: Correlation
Measured on weekly returns over the past three years, Bitdeer Technologies Group (BTDR) and Northrop Grumman (NOC) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTDR and NOC?
Over the past 3 years, BTDR and NOC moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.02) than the 3-year average (-0.23). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -678.6 %².
NOC is close to the least connected end of BTDR's tracked universe, ranking #9 of 12. The trailing year gives NOC the advantage: -16.4% versus -5.6%, a 10.8-point spread. One caveat on sizing: BTDR is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 NOC: side by side
| BTDR (Bitdeer Technologies Group) | NOC (Northrop Grumman) | |
|---|---|---|
| 1-year return | -16.4% | -5.6% |
| 5-year return | +14.6% | +60.1% |
| Volatility (ann.) | 110.8% | 26.7% |
| Beta vs S&P 500 | 2.58 | 0.24 |
| Max drawdown (3Y) | -79.1% | -35.1% |
| Market cap | $3.1B | $77.4B |
| P/E (trailing) | – | 17.5 |
| Dividend yield | 0.00% | 1.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | BTDR | NOC |
|---|---|---|
| 2022 | +4.6% | +43.0% |
| 2023 | -5.4% | -12.8% |
| 2024 | +119.8% | +1.9% |
| 2025 | -48.3% | +23.6% |
| 2026 | +1.1% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTDR and NOC good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BTDR and NOC?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.02 over the last year and -0.14 over 5 years.
Is NOC a good diversifier for BTDR?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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-noc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btdr-vs-noc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTDR correlations · NOC correlations
