Bitdeer Technologies Correlations

Stocks . USA . 
Stock . Bitdeer Technologies Group
BTDR Stock   10.15  0.84  7.64%   
The current 90-days correlation between Bitdeer Technologies and Custom Truck One is 0.29 (i.e., Modest diversification). The correlation of Bitdeer Technologies 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Bitdeer Technologies Correlation With Market

Modest diversification

The correlation between Bitdeer Technologies Group and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitdeer Technologies Group 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 Bitdeer Technologies Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Bitdeer Stock

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Moving against Bitdeer Stock

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  0.5DOMO Domo IncPairCorr
  0.37ZI ZoomInfo TechnologiesPairCorr
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  0.55API Agora IncPairCorr
  0.52FROG JfrogPairCorr

Related Correlations Analysis

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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   
FIGS
+ 0.87
LE
BNL
+ 0.62
MIUFY
AER
+ 0.5
MWG
AER
+ 0.5
MIUFY
AER
+ 0.5
BNL
BNL
+ 0.45
MWG
  
High negative correlations   
BNL
- 0.76
FIGS
AER
- 0.75
LE
AER
- 0.67
FIGS
FIGS
- 0.67
MIUFY
MIUFY
- 0.63
LE
BNL
- 0.55
LE

Risk-Adjusted Indicators

There is a big difference between Bitdeer Stock performing well and Bitdeer Technologies 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 Bitdeer Technologies' 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.

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