CIFR vs HIVE: Correlation
Cipher Digital Inc. (CIFR) and HIVE Digital Technologies Ltd (HIVE) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIFR and HIVE?
On 3 years of weekly data the CIFR/HIVE correlation comes out at 0.71, strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.71 over 3. The 5-year figure is 0.69, and annualized covariance runs at 7684.2 %².
Few assets follow CIFR as closely as HIVE, which ranks #3 of 18 tracked partners. Their recent paths diverged sharply: over the last 12 months CIFR outperformed by 135.8 percentage points (+139.9% for CIFR against +4.1% for HIVE).
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.
CIFR vs HIVE: side by side
| CIFR (Cipher Digital Inc.) | HIVE (HIVE Digital Technologies Ltd) | |
|---|---|---|
| 1-year return | +139.9% | +4.1% |
| 5-year return | +63.3% | -80.7% |
| Volatility (ann.) | 114.3% | 94.1% |
| Beta vs S&P 500 | 2.86 | 2.26 |
| Max drawdown (3Y) | -71.7% | -77.1% |
| Market cap | $7.0B | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIFR | HIVE |
|---|---|---|
| 2022 | -87.9% | -89.1% |
| 2023 | +637.5% | +214.6% |
| 2024 | +12.3% | -37.1% |
| 2025 | +218.1% | -9.5% |
| 2026 | +13.6% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIFR and HIVE good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CIFR and HIVE?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.64 over the last year and 0.69 over 5 years.
Is HIVE a good diversifier for CIFR?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 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/cifr-vs-hive.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cifr-vs-hive/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CIFR correlations · HIVE correlations
