CIFR vs HUT: Correlation
Cipher Digital Inc. (CIFR) and Hut 8 Corp. (HUT) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIFR and HUT?
Over the past 3 years, CIFR and HUT moved with a correlation of 0.76, which is strong. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 8226.7 %².
Few assets follow CIFR as closely as HUT, which ranks #1 of 18 tracked partners. Correlation aside, the last 12 months split them widely, with HUT ahead by 90.8 points (+139.9% versus +230.7%).
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 HUT: side by side
| CIFR (Cipher Digital Inc.) | HUT (Hut 8 Corp.) | |
|---|---|---|
| 1-year return | +139.9% | +230.7% |
| 5-year return | +63.3% | +110.5% |
| Volatility (ann.) | 114.3% | 94.2% |
| Beta vs S&P 500 | 2.86 | 2.26 |
| Max drawdown (3Y) | -71.7% | -65.1% |
| Market cap | $7.0B | $10.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIFR | HUT |
|---|---|---|
| 2022 | -87.9% | -89.2% |
| 2023 | +637.5% | +213.9% |
| 2024 | +12.3% | +53.6% |
| 2025 | +218.1% | +124.2% |
| 2026 | +13.6% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIFR and HUT good diversifiers for each other?
Only partially. A correlation of 0.76 means CIFR and HUT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CIFR and HUT?
As of 2026-08-27, the correlation of weekly returns between CIFR and HUT is 0.76 over 3 years, 0.81 over 1 year and 0.70 over 5 years.
Is HUT a good diversifier for CIFR?
Only partially. A correlation of 0.76 means CIFR and HUT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
A reading of 0.76 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cifr-vs-hut.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cifr-vs-hut/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CIFR correlations · HUT correlations
