KEEL vs. BTDR

Last updated Jun 9, 2026

KEEL (Keel Infrastructure Corporation) and BTDR (Bitdeer Technologies Group Class A Ordinary Shares) are both stocks. KEEL operates in Capital Markets (Financial Services), while BTDR operates in Software - Application (Technology). Over the past 3 years, KEEL returned 73.17%/yr vs 54.13%/yr for BTDR. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

KEEL vs. BTDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Keel Infrastructure Corporation (KEEL) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KEEL achieves a 140.85% return, which is significantly higher than BTDR's 64.94% return.

KEEL

• 1D: 10.33%
• 1M: 42.57%
• YTD: 140.85%
• 6M: 94.50%
• 1Y: 530.92%
• 3Y*: 73.17%
• 5Y*: 5.07%
• 10Y*: —

BTDR

• 1D: 5.84%
• 1M: 37.27%
• YTD: 64.94%
• 6M: 54.08%
• 1Y: 32.17%
• 3Y*: 54.13%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

KEEL vs. BTDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KEEL Keel Infrastructure Corporation	140.85%	57.72%	-48.80%	132.80%
BTDR Bitdeer Technologies Group Class A Ordinary Shares	64.94%	-48.27%	119.78%	-1.40%

Correlation

The correlation between KEEL and BTDR is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023	0.59

The correlation between KEEL and BTDR shifts across timeframes, from 0.59 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap KEEL : $3.12B BTDR : $4.32B
EPS KEEL : -$0.51 BTDR : -$2.23
PS Ratio KEEL : 13.69 BTDR : 5.65
PB Ratio KEEL : 5.57 BTDR : 5.91
Total Revenue (TTM) KEEL : $229.28M BTDR : $739.06M
Gross Profit (TTM) KEEL : -$18.90M BTDR : $25.18M
EBITDA (TTM) KEEL : -$149.60M BTDR : $59.65M

Return for Risk

KEEL vs. BTDR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KEEL

KEEL Risk / Return Rank: 95
KEEL Sharpe Ratio Rank: 99
KEEL Sortino Ratio Rank: 95
KEEL Omega Ratio Rank: 93
KEEL Calmar Ratio Rank: 96
KEEL Martin Ratio Rank: 91

BTDR

BTDR Risk / Return Rank: 55
BTDR Sharpe Ratio Rank: 54
BTDR Sortino Ratio Rank: 60
BTDR Omega Ratio Rank: 57
BTDR Calmar Ratio Rank: 53
BTDR Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KEEL vs. BTDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Keel Infrastructure Corporation (KEEL) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	KEEL	BTDR	Difference
Sharpe ratio: Return per unit of total volatility	4.85	0.32	+4.53
Sortino ratio: Return per unit of downside risk	3.97	1.18	+2.78
Omega ratio: Gain probability vs. loss probability	1.47	1.14	+0.34
Calmar ratio: Return relative to maximum drawdown	7.27	0.45	+6.82
Martin ratio: Return relative to average drawdown	12.09	0.75	+11.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KEEL vs. BTDR - Sharpe Ratio Comparison

The current KEEL Sharpe Ratio is 4.85, which is higher than the BTDR Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of KEEL and BTDR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KEEL	BTDR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.85	0.32	+4.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.18	-0.11

Drawdowns

KEEL vs. BTDR - Drawdown Comparison

The maximum KEEL drawdown since its inception was -95.72%, which is greater than BTDR's maximum drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for KEEL and BTDR.

Drawdown Indicators

	KEEL	BTDR	Difference
Max Drawdown Largest peak-to-trough decline	-95.72%	-79.52%	-16.20%
Max Drawdown (1Y) Largest decline over 1 year	-73.65%	-71.89%	-1.76%
Max Drawdown (3Y) Largest decline over 3 years	-81.04%	-79.52%	-1.52%
Max Drawdown (5Y) Largest decline over 5 years	-95.72%	—	—
Current Drawdown Current decline from peak	-36.19%	-29.16%	-7.03%
Average Drawdown Average peak-to-trough decline	-67.60%	-43.72%	-23.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.21%	42.76%	+1.45%

Volatility

KEEL vs. BTDR - Volatility Comparison

The current volatility for Keel Infrastructure Corporation (KEEL) is 28.39%, while Bitdeer Technologies Group Class A Ordinary Shares (BTDR) has a volatility of 31.03%. This indicates that KEEL experiences smaller price fluctuations and is considered to be less risky than BTDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KEEL	BTDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.39%	31.03%	-2.64%
Volatility (6M) Calculated over the trailing 6-month period	70.46%	68.71%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	110.59%	100.30%	+10.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.02%	122.86%	-17.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	291.45%	122.86%	+168.59%

Dividends

KEEL vs. BTDR - Dividend Comparison

Neither KEEL nor BTDR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both KEEL and BTDR in my portfolio?

KEEL and BTDR have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KEEL or BTDR?

BTDR has higher volatility (31.03%) compared to KEEL (28.39%). In terms of maximum drawdown, KEEL dropped -95.72% vs BTDR's -79.52%.

Which has better risk-adjusted returns?

KEEL currently has the higher Sharpe Ratio (4.85 vs 0.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.