BTOG vs FSTR: Correlation
How closely do Bit Origin Limited - Class A (BTOG) and L.B. Foster Company (FSTR) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTOG and FSTR?
On 3 years of weekly data the BTOG/FSTR correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.09 versus -0.26 over 3 years. The 5-year figure is -0.20, and annualized covariance runs at -2728.3 %².
FSTR is close to the least connected end of BTOG's tracked universe, ranking #12 of 12. Correlation aside, the last 12 months split them widely, with FSTR ahead by 140.0 points (-97.2% versus +42.8%). Risk is not evenly split, since BTOG carries 4.9 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.
BTOG vs FSTR: side by side
| BTOG (Bit Origin Limited - Class A) | FSTR (L.B. Foster Company) | |
|---|---|---|
| 1-year return | -97.2% | +42.8% |
| 5-year return | -100.0% | +119.1% |
| Volatility (ann.) | 229.6% | 46.4% |
| Beta vs S&P 500 | 1.61 | 1.23 |
| Max drawdown (3Y) | -99.9% | -45.9% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 35.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTOG | FSTR |
|---|---|---|
| 2022 | -87.2% | -29.6% |
| 2023 | -21.4% | +127.2% |
| 2024 | -76.4% | +22.3% |
| 2025 | -82.4% | +0.2% |
| 2026 | -93.1% | +40.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTOG and FSTR good diversifiers for each other?
Yes. With a correlation of -0.26, BTOG and FSTR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTOG and FSTR?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.09 over the last year and -0.20 over 5 years.
Is FSTR a good diversifier for BTOG?
Yes. With a correlation of -0.26, BTOG and FSTR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 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/btog-vs-fstr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/btog-vs-fstr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTOG correlations · FSTR correlations
