CLSK vs IREN: Correlation
How closely do CleanSpark, Inc. (CLSK) and IREN Limited (IREN) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLSK and IREN?
Across a 3-year window, the weekly returns of CLSK and IREN correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. Stretching to 5 years gives 0.64, with an annualized covariance of 7730.7 %².
Within CLSK's tracked universe of 15 assets, IREN comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IREN outperformed by 46.1 percentage points (+35.2% for CLSK against +81.3% for IREN).
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 IREN: side by side
| CLSK (CleanSpark, Inc.) | IREN (IREN Limited) | |
|---|---|---|
| 1-year return | +35.2% | +81.3% |
| 5-year return | -5.1% | +65.8% |
| Volatility (ann.) | 104.3% | 109.0% |
| Beta vs S&P 500 | 2.12 | 2.80 |
| Max drawdown (3Y) | -71.3% | -65.6% |
| Market cap | $3.3B | $14.5B |
| P/E (trailing) | – | 51.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLSK | IREN |
|---|---|---|
| 2022 | -78.6% | -92.3% |
| 2023 | +440.7% | +472.0% |
| 2024 | -16.5% | +37.3% |
| 2025 | +9.9% | +284.6% |
| 2026 | +28.0% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLSK and IREN good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLSK and IREN?
As of 2026-08-27, the correlation of weekly returns between CLSK and IREN is 0.68 over 3 years, 0.70 over 1 year and 0.64 over 5 years.
Is IREN a good diversifier for CLSK?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 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
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Related comparisons
Hubs: CLSK correlations · IREN correlations
