CIFR vs MARA: Correlation
Measured on weekly returns over the past three years, Cipher Digital Inc. (CIFR) and MARA Holdings, Inc. (MARA) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIFR and MARA?
Across a 3-year window, the weekly returns of CIFR and MARA correlate at 0.65, strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 6286.5 %².
Within CIFR's tracked universe of 18 assets, MARA comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CIFR outperformed by 165.0 percentage points (+139.9% for CIFR against -25.1% for MARA).
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 MARA: side by side
| CIFR (Cipher Digital Inc.) | MARA (MARA Holdings, Inc.) | |
|---|---|---|
| 1-year return | +139.9% | -25.1% |
| 5-year return | +63.3% | -70.7% |
| Volatility (ann.) | 114.3% | 83.9% |
| Beta vs S&P 500 | 2.86 | 2.07 |
| Max drawdown (3Y) | -71.7% | -78.3% |
| Market cap | $7.0B | $4.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIFR | MARA |
|---|---|---|
| 2022 | -87.9% | -89.6% |
| 2023 | +637.5% | +586.8% |
| 2024 | +12.3% | -28.6% |
| 2025 | +218.1% | -46.5% |
| 2026 | +13.6% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIFR and MARA good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CIFR and MARA?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.64 over the last year and 0.62 over 5 years.
Is MARA a good diversifier for CIFR?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
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/cifr-vs-mara.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cifr-vs-mara/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CIFR correlations · MARA correlations
