CLSK vs HIVE: Correlation
Measured on weekly returns over the past three years, CleanSpark, Inc. (CLSK) and HIVE Digital Technologies Ltd (HIVE) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLSK and HIVE?
Across a 3-year window, the weekly returns of CLSK and HIVE correlate at 0.67, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 6626.4 %².
By 3-year correlation, HIVE places #6 of the 15 assets tracked against CLSK. Correlation aside, the last 12 months split them widely, with CLSK ahead by 31.1 points (+35.2% versus +4.1%).
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 HIVE: side by side
| CLSK (CleanSpark, Inc.) | HIVE (HIVE Digital Technologies Ltd) | |
|---|---|---|
| 1-year return | +35.2% | +4.1% |
| 5-year return | -5.1% | -80.7% |
| Volatility (ann.) | 104.3% | 94.1% |
| Beta vs S&P 500 | 2.12 | 2.26 |
| Max drawdown (3Y) | -71.3% | -77.1% |
| Market cap | $3.3B | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLSK | HIVE |
|---|---|---|
| 2022 | -78.6% | -89.1% |
| 2023 | +440.7% | +214.6% |
| 2024 | -16.5% | -37.1% |
| 2025 | +9.9% | -9.5% |
| 2026 | +28.0% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLSK and HIVE good diversifiers for each other?
Only partially. A correlation of 0.67 means CLSK and HIVE 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 HIVE?
The CLSK/HIVE correlation stands at 0.67 on a 3-year window (1 year: 0.71, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is HIVE a good diversifier for CLSK?
Only partially. A correlation of 0.67 means CLSK and HIVE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 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-hive.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clsk-vs-hive/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLSK correlations · HIVE correlations
