Bitcoin Depot Correlations

BTMWW Stock

0.08 0.01 9.24%

The current 90-days correlation between Bitcoin Depot and PJT Partners is 0.07 (i.e., Significant diversification). The correlation of Bitcoin Depot 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.

Bitcoin Depot Correlation With Market

Average diversification

The correlation between Bitcoin Depot and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitcoin Depot 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 Bitcoin Depot. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

For more information on how to buy Bitcoin Stock please use our How to Invest in Bitcoin Depot guide.

Moving together with Bitcoin Stock

0.8	V	Visa Class A	Pair Corr
0.84	DIST	Distoken Acquisition	Pair Corr
0.66	MA	Mastercard	Pair Corr
0.68	MC	Moelis	Pair Corr
0.74	MS	Morgan Stanley Sell-off Trend	Pair Corr
0.73	SF	Stifel Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.73	ROCLW	Roth CH Acquisition	Pair Corr
0.66	EMCG	Embrace Change Acqui	Pair Corr

Moving against Bitcoin Stock

0.66	WU	Western Union	Pair Corr
0.49	PWUPW	PowerUp Acquisition Corp	Pair Corr
0.33	PT	Pintec Technology	Pair Corr
0.32	PWUPU	PowerUp Acquisition Corp	Pair Corr
0.31	BRACU	Broad Capital Acquisition	Pair Corr
0.51	BRKHU	BurTech Acquisition Corp	Pair Corr
0.4	ROCLU	Roth CH Acquisition	Pair Corr
0.38	BRKHW	BurTech Acquisition Corp	Pair Corr
0.37	EARN	Ellington Residential	Pair Corr
0.31	PFTAW	Portage Fintech Acqu	Pair Corr

Related Correlations Analysis

	PJT	PIPR	EVR	MC	HLI	DFIN	SF	OPY	SF-PD	SCHW-PD
PJT		0.97	0.97	0.9	0.98	-0.58	0.97	0.68	0.08	0.51	PJT
PIPR	0.97		0.98	0.95	0.97	-0.57	0.95	0.76	-0.08	0.53	PIPR
EVR	0.97	0.98		0.94	0.98	-0.61	0.96	0.78	-0.07	0.53	EVR
MC	0.9	0.95	0.94		0.89	-0.4	0.85	0.7	-0.11	0.59	MC
HLI	0.98	0.97	0.98	0.89		-0.67	0.98	0.78	-0.04	0.52	HLI
DFIN	-0.58	-0.57	-0.61	-0.4	-0.67		-0.69	-0.75	0.09	-0.2	DFIN
SF	0.97	0.95	0.96	0.85	0.98	-0.69		0.8	0.02	0.44	SF
OPY	0.68	0.76	0.78	0.7	0.78	-0.75	0.8		-0.34	0.41	OPY
SF-PD	0.08	-0.08	-0.07	-0.11	-0.04	0.09	0.02	-0.34		0.02	SF-PD
SCHW-PD	0.51	0.53	0.53	0.59	0.52	-0.2	0.44	0.41	0.02		SCHW-PD
	PJT	PIPR	EVR	MC	HLI	DFIN	SF	OPY	SF-PD	SCHW-PD

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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

HLI	+ 0.98	PJT
EVR	+ 0.98	PIPR
HLI	+ 0.98	EVR
SF	+ 0.98	HLI
PIPR	+ 0.97	PJT
EVR	+ 0.97	PJT

High negative correlations

OPY	- 0.75	DFIN
SF	- 0.69	DFIN
DFIN	- 0.67	HLI
DFIN	- 0.61	EVR
DFIN	- 0.58	PJT
DFIN	- 0.57	PIPR

Risk-Adjusted Indicators

There is a big difference between Bitcoin Stock performing well and Bitcoin Depot 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 Bitcoin Depot'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PJT	1.50	0.16	0.27	0.18	0.91	(2.07)	3.55	(2.04)	18.44
PIPR	1.51	0.06	0.19	0.14	1.19	(1.89)	3.07	(2.70)	22.79
EVR	1.60	0.07	0.14	0.14	1.63	(1.84)	3.06	(2.72)	19.27
MC	1.70	(0.14)	0.05	0.07	1.50	(2.29)	3.42	(3.04)	22.37
HLI	1.24	0.13	0.14	0.19	1.05	(1.33)	2.31	(2.04)	12.41
DFIN	1.39	(0.32)	0.00	(0.09)	0.00	0.00	3.03	(3.22)	11.70
SF	1.22	0.22	0.31	0.22	0.66	(1.54)	3.01	(1.97)	16.31
OPY	1.29	0.17	0.13	0.30	0.95	(1.54)	2.58	(2.06)	13.50
SF-PD	0.82	0.06	(0.07)	(0.16)	1.11	(0.79)	2.15	(1.76)	5.61
SCHW-PD	0.24	0.02	(0.35)	0.61	0.19	(0.28)	0.52	(0.44)	1.44

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