Bitfarms Correlations
| BITF Stock | 1.54 0.09 6.21% |
The current 90-days correlation between Bitfarms and Hut 8 Mining is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bitfarms moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bitfarms moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Bitfarms Correlation With Market
Weak diversification
The correlation between Bitfarms and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitfarms and DJI in the same portfolio, assuming nothing else is changed.
Bitfarms |
The ability to find closely correlated positions to Bitfarms could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bitfarms when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bitfarms - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bitfarms to buy it.
Moving against Bitfarms Stock
| 0.85 | KTO | K2 Gold | PairCorr |
| 0.84 | MNT-U | ROYAL CANADIAN MINT | PairCorr |
| 0.81 | VGZ | Vista Gold | PairCorr |
| 0.78 | ERD | Erdene Resource Deve | PairCorr |
| 0.77 | VMY-H | Voice Mobility Inter | PairCorr |
| 0.77 | NHT-U | NexPoint Hospitality | PairCorr |
| 0.77 | IPCO | International Petroleum | PairCorr |
| 0.77 | ASCU | Arizona Sonoran Copper | PairCorr |
| 0.73 | KNG | Kingsmen Resources | PairCorr |
| 0.73 | RAMP | Ramp Metals | PairCorr |
| 0.71 | TFPM | Triple Flag Precious | PairCorr |
| 0.66 | BB | BlackBerry | PairCorr |
| 0.64 | LAB | Labrador Gold Corp | PairCorr |
| 0.59 | SPPP | Sprott Physical Platinum | PairCorr |
| 0.52 | SSV | Southern Silver Expl Earnings Call This Week | PairCorr |
| 0.48 | ADCO | Adcore Inc | PairCorr |
| 0.39 | MTN-H | Martina Minerals Corp | PairCorr |
| 0.86 | EDT | Spectral Med Earnings Call This Week | PairCorr |
| 0.82 | IFOS | Itafos Corp | PairCorr |
| 0.8 | ARG | Amerigo Resources | PairCorr |
| 0.77 | PCAA-P | PC 1 Corp | PairCorr |
| 0.74 | RAY-A | Stingray Group | PairCorr |
| 0.73 | TMQ | Trilogy Metals | PairCorr |
| 0.68 | MTT | Magna Terra Minerals | PairCorr |
| 0.66 | EMX | EMX Royalty Corp | PairCorr |
| 0.66 | MKA | Mkango Resources | PairCorr |
| 0.65 | K | Kinross Gold Corp | PairCorr |
| 0.61 | VCI | Vitreous Glass | PairCorr |
| 0.6 | GURU | Guru Organic Energy | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Bitfarms Stock performing well and Bitfarms 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 Bitfarms' 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 | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HUT | 4.52 | (0.82) | 0.00 | (0.55) | 0.00 | 9.68 | 36.73 | |||
| BITF | 3.81 | (0.83) | 0.00 | (0.88) | 0.00 | 6.83 | 22.92 | |||
| DMGI | 3.76 | (0.62) | 0.00 | (0.48) | 0.00 | 8.11 | 24.81 | |||
| GLXY | 3.69 | (0.35) | 0.00 | (0.24) | 0.00 | 6.16 | 29.23 | |||
| DGHI | 6.59 | (0.10) | 0.00 | 0.11 | 0.00 | 14.92 | 50.57 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bitfarms without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Positions RatingsDetermine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |
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Bitfarms Corporate Management
Elected by the shareholders, the Bitfarms' board of directors comprises two types of representatives: Bitfarms inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bitfarms. The board's role is to monitor Bitfarms' management team and ensure that shareholders' interests are well served. Bitfarms' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Bitfarms' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Patricia Osorio | VP Secretary | Profile | |
| Rachel Silverstein | U Counsel | Profile | |
| Stephanie Wargo | Vice Communications | Profile | |
| Philippe Fortier | Senior Development | Profile | |
| Nicolas Bonta | Founder Chairman | Profile | |
| Tracy Krumme | Senior Relations | Profile | |
| Liam Wilson | Chief Officer | Profile |