Bitfarms Correlations

BITF Stock

USD 1.01 0.09 8.18%

The current 90-days correlation between Bitfarms and HIVE Blockchain Technologies is 0.88 (i.e., Very poor diversification). The correlation of Bitfarms is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Bitfarms Correlation With Market

Average diversification

The correlation between Bitfarms and DJI is 0.18 (i.e., Average 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.

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

For more detail on how to invest in Bitfarms Stock please use our How to Invest in Bitfarms guide.

Moving together with Bitfarms Stock

0.8	DHIL	Diamond Hill Investment	Pair Corr
0.82	BX	Blackstone Group Normal Trading	Pair Corr
0.84	LC	LendingClub Corp	Pair Corr
0.69	RC	Ready Capital Corp	Pair Corr
0.86	WD	Walker Dunlop	Pair Corr
0.9	WT	WisdomTree	Pair Corr
0.94	VRTS	Virtus Investment	Pair Corr

Moving against Bitfarms Stock

0.86	LX	Lexinfintech Holdings	Pair Corr
0.85	DX	Dynex Capital	Pair Corr
0.8	DB	Deutsche Bank AG Buyout Trend	Pair Corr
0.74	V	Visa Class A	Pair Corr
0.56	LU	Lufax Holding	Pair Corr
0.52	MA	Mastercard	Pair Corr
0.45	AB	AllianceBernstein	Pair Corr
0.71	DMYY	dMY Squared Technology	Pair Corr
0.66	XP	Xp Inc	Pair Corr
0.66	DOMH	Dominari Holdings	Pair Corr
0.62	GCMGW	GCM Grosvenor	Pair Corr
0.41	PT	Pintec Technology	Pair Corr
0.9	EMCG	Embrace Change Acqui	Pair Corr
0.84	DYCQ	DT Cloud Acquisition	Pair Corr
0.84	EMCGU	Embrace Change Acqui	Pair Corr
0.83	VMCA	Valuence Merger Corp	Pair Corr
0.74	ANSCU	Agriculture Natural	Pair Corr
0.71	ANSCW	Agriculture Natural	Pair Corr

Related Correlations Analysis

	HIVE	CLSK	MARA	RIOT	HUT	BTBT	WULF	CIFR	IREN	SDIG
HIVE		0.95	0.94	0.85	0.96	0.97	0.92	0.86	0.88	0.92	HIVE
CLSK	0.95		0.92	0.85	0.92	0.95	0.86	0.87	0.9	0.87	CLSK
MARA	0.94	0.92		0.78	0.92	0.95	0.92	0.78	0.77	0.94	MARA
RIOT	0.85	0.85	0.78		0.93	0.83	0.76	0.85	0.85	0.68	RIOT
HUT	0.96	0.92	0.92	0.93		0.95	0.91	0.84	0.85	0.88	HUT
BTBT	0.97	0.95	0.95	0.83	0.95		0.91	0.81	0.83	0.93	BTBT
WULF	0.92	0.86	0.92	0.76	0.91	0.91		0.78	0.78	0.96	WULF
CIFR	0.86	0.87	0.78	0.85	0.84	0.81	0.78		0.95	0.73	CIFR
IREN	0.88	0.9	0.77	0.85	0.85	0.83	0.78	0.95		0.74	IREN
SDIG	0.92	0.87	0.94	0.68	0.88	0.93	0.96	0.73	0.74		SDIG
	HIVE	CLSK	MARA	RIOT	HUT	BTBT	WULF	CIFR	IREN	SDIG

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
HIVE	3.23	(1.03)	(0.72)	7.12	(8.40)	21.92
CLSK	4.14	(0.51)	(0.41)	8.34	(8.41)	24.87
MARA	3.85	(0.62)	(0.41)	8.23	(8.50)	30.41
RIOT	4.38	(0.22)	(0.21)	8.06	(9.68)	33.41
HUT	4.39	(0.82)	(0.74)	10.06	(10.42)	36.19
BTBT	4.30	(0.67)	(0.55)	7.49	(8.63)	33.99
WULF	6.16	(1.15)	1.02	10.95	(12.41)	46.95
CIFR	5.28	(0.67)	(0.59)	10.93	(13.00)	44.11
IREN	4.98	(0.69)	(0.58)	7.59	(11.97)	32.72
SDIG	3.94	(0.98)	2.09	6.99	(7.97)	24.43

Bitfarms Corporate Management

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

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