BTBT vs CLSK: Correlation
How closely do Bit Digital, Inc. (BTBT) and CleanSpark, Inc. (CLSK) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTBT and CLSK?
On 3 years of weekly data the BTBT/CLSK correlation comes out at 0.65, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.65 over 3. The 5-year figure is 0.66, and annualized covariance runs at 5829.4 %².
By 3-year correlation, CLSK places #4 of the 24 assets tracked against BTBT. Their recent paths diverged sharply: over the last 12 months CLSK outperformed by 77.2 percentage points (-42.0% for BTBT against +35.2% for CLSK).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BTBT vs CLSK: side by side
| BTBT (Bit Digital, Inc.) | CLSK (CleanSpark, Inc.) | |
|---|---|---|
| 1-year return | -42.0% | +35.2% |
| 5-year return | -87.6% | -5.1% |
| Volatility (ann.) | 85.4% | 104.3% |
| Beta vs S&P 500 | 2.24 | 2.12 |
| Max drawdown (3Y) | -78.1% | -71.3% |
| Market cap | $0.6B | $3.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTBT | CLSK |
|---|---|---|
| 2022 | -90.1% | -78.6% |
| 2023 | +605.0% | +440.7% |
| 2024 | -30.7% | -16.5% |
| 2025 | -35.5% | +9.9% |
| 2026 | -15.9% | +28.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTBT and CLSK good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BTBT and CLSK?
The BTBT/CLSK correlation stands at 0.65 on a 3-year window (1 year: 0.69, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is CLSK a good diversifier for BTBT?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btbt-vs-clsk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btbt-vs-clsk/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BTBT correlations · CLSK correlations
