The five Canadian Blockchain stocks on our list have high Betas
SmallCapPower | March 16, 2018: Cryptocurrencies remain volatile, with Bitcoin recently dropping from US$11,000 to US$8,000 over a two-week period. Today, we have identified some of the most volatile Canadian Blockchain stocks by examining their Betas. The closer the Beta is to 1, the higher correlation that stock has with the overall market. For instance, a stock with a Beta of 0.5 would move 50% less than the market, while a stock with a Beta of 2 would move 100% more than the market.
HIVE Blockchain Technologies Ltd. (TSXV:HIVE) – $1.32
Financial & Commodity Market Operators & Service Providers
HIVE Blockchain Technologies acts as a Blockchain infrastructure company that operates a mining facility located in Iceland. The Company’s facility was completed in May 2017 and has the capability to mine a variety of cryptocurrencies, including Ethereum and Zcash. HIVE opened an Ethereum mining facility in Sweden in January and plans to expand it throughout 2018.
- Market Cap: $370.4 Million
- 3 Month Total Return: -62.3%
- Daily Beta – 90 Day: 1.2
- Daily Beta – 180 Day: 6.3
Calyx Ventures Inc. (TSXV:CYX) – $0.13
IT Services & Consulting
Calyx Bio-Ventures offers a software platform designed to improve efficiency and effectiveness of indoor agriculture operations. The Company serves clients in a variety of industries, including licensed producers of medical marijuana. The Company’s wholly-owned subsidiary, Canada Blockchain Holdings Corp., earned US$50,000 in its first month of operation and plans to acquire an additional 100 mining machines.
- Market Cap: $9.6 Million
- 3 Month Total Return: -54.4%
- Daily Beta – 90 Day: 4.4
- Daily Beta – 180 Day: 5.3
BlocPlay Entertainment Inc. (CSE:PLAY) – $0.07
Toys & Children’s Products
BlocPlay Entertainment is a Canada-based gaming company. The Company focuses on creating video games for pre-existing Intellectual Property. The Company’s primary focus is the production of its video game, Heavy Gear Assault. In late 2016, the game launched on Steam, an online video game distribution platform, in a playable prototype stage, called Early Access. The Company has three other titles in various stages of development.
- Market Cap: $11.4 Million
- 3 Month Total Return: -67.5%
- Daily Beta – 90 Day: 1.9
- Daily Beta – 180 Day: 4.0
Glance Technologies Inc. (CSE:GET) – $0.71
Glance Technologies provides payment solutions to clients primarily in the restaurant business. The Company’s Glance Pay app allows users to pay restaurant bills without the need for a card machine, and offers restaurants expense tracking, rewards and records for bookkeeping purposes. Glance operates its own cryptocurrency for use in its app, as well as a subsidiary in the cannabis payment vertical.
- Market Cap: $94.5 Million
- 3 Month Total Return: -67.6%
- Daily Beta – 90 Day: 4.5
- Daily Beta – 180 Day: 3.8
Datametrex AI Ltd. (TSXV:DM) – $0.14
Datametrex AI provides cloud-based data solutions to Big Data clients in the retail sector. The Company announced plans to incorporate Blockchain technology into its current software to further authenticate and validate data collected. Its Ronin subsidiary has opened a cryptocurrency mining facility in Quebec.
- Market Cap: $41.1 Million
- 3 Month Total Return: -47.2%
- Daily Beta – 90 Day: 4.9
- Daily Beta – 180 Day: 3.3
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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