BTOC vs PHUN: Correlation
Armlogi Holding Corp. (BTOC) and Phunware, Inc. (PHUN) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTOC and PHUN?
On 3 years of weekly data the BTOC/PHUN correlation comes out at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 3209.7 %².
Few assets follow BTOC as closely as PHUN, which ranks #1 of 10 tracked partners. The last year tells two different stories: PHUN led by 59.6 percentage points, -79.7% for BTOC against -20.1% for PHUN. Risk is not evenly split, since PHUN carries 1.9 times the volatility of the other side.
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.
BTOC vs PHUN: side by side
| BTOC (Armlogi Holding Corp.) | PHUN (Phunware, Inc.) | |
|---|---|---|
| 1-year return | -79.7% | -20.1% |
| 5-year return | n/a | -96.0% |
| Volatility (ann.) | 83.6% | 162.6% |
| Beta vs S&P 500 | 1.75 | 1.61 |
| Max drawdown (3Y) | -97.1% | -92.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTOC | PHUN |
|---|---|---|
| 2022 | – | -70.6% |
| 2023 | – | -89.4% |
| 2024 | – | +26.8% |
| 2025 | -87.5% | -64.4% |
| 2026 | -44.6% | +14.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTOC and PHUN good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BTOC and PHUN?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.36 over the last year and n/a over 5 years.
Is PHUN a good diversifier for BTOC?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 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/btoc-vs-phun.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/btoc-vs-phun/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTOC correlations · PHUN correlations
