CLSK vs COIN: Correlation
CleanSpark, Inc. (CLSK) and Coinbase (COIN) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLSK and COIN?
Across a 3-year window, the weekly returns of CLSK and COIN correlate at 0.59, moderate. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.59). Stretching to 5 years gives 0.60, with an annualized covariance of 4924.6 %².
By 3-year correlation, COIN places #8 of the 15 assets tracked against CLSK. Correlation aside, the last 12 months split them widely, with CLSK ahead by 73.5 points (+35.2% versus -38.3%).
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.
CLSK vs COIN: side by side
| CLSK (CleanSpark, Inc.) | COIN (Coinbase) | |
|---|---|---|
| 1-year return | +35.2% | -38.3% |
| 5-year return | -5.1% | -27.4% |
| Volatility (ann.) | 104.3% | 80.0% |
| Beta vs S&P 500 | 2.12 | 2.66 |
| Max drawdown (3Y) | -71.3% | -66.4% |
| Market cap | $3.3B | $50.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | CLSK | COIN |
|---|---|---|
| 2022 | -78.6% | -86.0% |
| 2023 | +440.7% | +391.4% |
| 2024 | -16.5% | +42.8% |
| 2025 | +9.9% | -8.9% |
| 2026 | +28.0% | -15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLSK and COIN good diversifiers for each other?
Only partially. A correlation of 0.59 means CLSK and COIN 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 CLSK and COIN?
As of 2026-08-27, the correlation of weekly returns between CLSK and COIN is 0.59 over 3 years, 0.46 over 1 year and 0.60 over 5 years.
Is COIN a good diversifier for CLSK?
Only partially. A correlation of 0.59 means CLSK and COIN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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/clsk-vs-coin.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clsk-vs-coin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLSK correlations · COIN correlations
