BTX vs STX: Correlation
How closely do BlackRock Technology and Private Equity Term Trust (BTX) and Seagate Technology (STX) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTX and STX?
Across a 3-year window, the weekly returns of BTX and STX correlate at 0.61, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.61 over 3. Stretching to 5 years gives 0.56, with an annualized covariance of 762.1 %².
Within BTX's tracked universe of 20 assets, STX comes in at #8 by 3-year correlation. The last year tells two different stories: STX led by 371.3 percentage points, +39.5% for BTX against +410.8% for STX. Note the risk asymmetry: STX runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BTX vs STX: side by side
| BTX (BlackRock Technology and Private Equity Term Trust) | STX (Seagate Technology) | |
|---|---|---|
| 1-year return | +39.5% | +410.8% |
| 5-year return | -21.7% | +1032.5% |
| Volatility (ann.) | 24.4% | 51.3% |
| Beta vs S&P 500 | 1.23 | 1.97 |
| Max drawdown (3Y) | -31.7% | -40.0% |
| Market cap | $1.1B | $192.0B |
| P/E (trailing) | 23.8 | 61.0 |
| Dividend yield | 0.00% | 0.35% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | BTX | STX |
|---|---|---|
| 2022 | -47.8% | -51.4% |
| 2023 | +19.3% | +69.1% |
| 2024 | +13.4% | +4.1% |
| 2025 | +0.9% | +225.3% |
| 2026 | +45.3% | +208.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTX and STX good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BTX and STX?
The BTX/STX correlation stands at 0.61 on a 3-year window (1 year: 0.62, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is STX a good diversifier for BTX?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 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/btx-vs-stx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btx-vs-stx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTX correlations · STX correlations
