Argo Blockchain Correlations

ARBK Stock

USD 0.38 0.01 2.56%

The current 90-days correlation between Argo Blockchain PLC and Terawulf is 0.52 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Argo Blockchain moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Argo Blockchain PLC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Argo Blockchain Correlation With Market

Modest diversification

The correlation between Argo Blockchain PLC and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Argo Blockchain PLC and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Argo Blockchain PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Argo Stock

0.76	WD	Walker Dunlop	Pair Corr
0.68	SYF	Synchrony Financial	Pair Corr
0.78	ORGN	Origin Materials	Pair Corr
0.83	PYPL	PayPal Holdings	Pair Corr
0.61	SOFI	SoFi Technologies	Pair Corr
0.95	BITF	Bitfarms	Pair Corr
0.84	CODI	Compass Diversified	Pair Corr
0.75	DHIL	Diamond Hill Investment	Pair Corr
0.77	AX	Axos Financial	Pair Corr
0.7	BX	Blackstone Group	Pair Corr
0.77	CM	Canadian Imperial Bank	Pair Corr

Moving against Argo Stock

0.75	V	Visa Class A	Pair Corr
0.69	GDST	Goldenstone Acquisition	Pair Corr
0.52	MA	Mastercard	Pair Corr
0.44	RENEW	Cartesian Growth	Pair Corr
0.42	PT	Pintec Technology	Pair Corr
0.36	OPFI	OppFi Inc	Pair Corr
0.72	COOP	Mr Cooper Group	Pair Corr
0.69	BK	Bank of New York	Pair Corr
0.61	BBDC	Barings BDC	Pair Corr
0.54	AB	AllianceBernstein	Pair Corr
0.52	L	Loews Corp	Pair Corr
0.36	SNFCA	Security National Earnings Call This Week	Pair Corr
0.91	GL	Globe Life	Pair Corr
0.87	LX	Lexinfintech Holdings	Pair Corr
0.85	DB	Deutsche Bank AG	Pair Corr
0.69	LU	Lufax Holding	Pair Corr
0.57	HG	Hamilton Insurance Group,	Pair Corr
0.55	CB	Chubb	Pair Corr

Related Correlations Analysis

	WULF	IREN	SDIG	BITF	DMGGF	APPCF	ARCNF	ABIT	CIFR	GREE
WULF		0.82	0.86	0.98	0.94	0.0	0.0	0.79	0.83	0.94	WULF
IREN	0.82		0.67	0.79	0.79	0.0	0.0	0.56	0.96	0.67	IREN
SDIG	0.86	0.67		0.87	0.87	0.0	0.0	0.83	0.66	0.88	SDIG
BITF	0.98	0.79	0.87		0.95	0.0	0.0	0.79	0.8	0.95	BITF
DMGGF	0.94	0.79	0.87	0.95		0.0	0.0	0.81	0.81	0.88	DMGGF
APPCF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	APPCF
ARCNF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ARCNF
ABIT	0.79	0.56	0.83	0.79	0.81	0.0	0.0		0.53	0.8	ABIT
CIFR	0.83	0.96	0.66	0.8	0.81	0.0	0.0	0.53		0.66	CIFR
GREE	0.94	0.67	0.88	0.95	0.88	0.0	0.0	0.8	0.66		GREE
	WULF	IREN	SDIG	BITF	DMGGF	APPCF	ARCNF	ABIT	CIFR	GREE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BITF	+ 0.98	WULF
CIFR	+ 0.96	IREN
DMGGF	+ 0.95	BITF
GREE	+ 0.95	BITF
DMGGF	+ 0.94	WULF
GREE	+ 0.94	WULF

High negative correlations

GREE	- 0.0	ARCNF
CIFR	- 0.0	ARCNF
ABIT	- 0.0	ARCNF
GREE	- 0.0	APPCF
CIFR	- 0.0	APPCF
ABIT	- 0.0	APPCF

Risk-Adjusted Indicators

There is a big difference between Argo Stock performing well and Argo Blockchain Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Argo Blockchain's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
WULF	5.98	(0.67)	(0.29)	11.49	(12.41)	46.95
IREN	5.10	(0.59)	(0.41)	7.86	(11.97)	32.72
SDIG	3.94	(0.87)	(0.89)	6.99	(7.97)	24.43
BITF	3.87	(0.78)	(0.72)	6.93	(8.87)	22.92
DMGGF	4.45	(0.50)	(0.33)	10.53	(9.52)	27.00
APPCF	0.00	0.00	0.00	0.00	0.00	0.00
ARCNF	0.00	0.00	0.00	0.00	0.00	0.00
ABIT	7.59	(0.77)	0.53	16.33	(13.70)	65.83
CIFR	5.33	(0.73)	(0.53)	10.93	(13.00)	44.11
GREE	4.00	(1.14)	(1.25)	8.48	(8.95)	20.87

Argo Blockchain Corporate Management

Jean Esquier	VP Development	Profile
Alana Marks	Vice Culture	Profile
Seif ElBakly	Chief Officer	Profile
Sebastien Chalus	Chief Officer	Profile
CA CFA	Chief Officer	Profile
Alex CA	Principal CFO	Profile
Tom Divine	VP Relations	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC