CLSK vs KEEL: Correlation
How closely do CleanSpark, Inc. (CLSK) and Keel Infrastructure Corp. (KEEL) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLSK and KEEL?
Across a 3-year window, the weekly returns of CLSK and KEEL correlate at 0.70, strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 7878.4 %².
In CLSK's tracked universe of 15 assets, KEEL sits right near the top at #3. Correlation aside, the last 12 months split them widely, with KEEL ahead by 126.7 points (+35.2% versus +161.9%).
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 KEEL: side by side
| CLSK (CleanSpark, Inc.) | KEEL (Keel Infrastructure Corp.) | |
|---|---|---|
| 1-year return | +35.2% | +161.9% |
| 5-year return | -5.1% | -41.1% |
| Volatility (ann.) | 104.3% | 108.4% |
| Beta vs S&P 500 | 2.12 | 2.18 |
| Max drawdown (3Y) | -71.3% | -81.1% |
| Market cap | $3.3B | $2.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLSK | KEEL |
|---|---|---|
| 2022 | -78.6% | -91.3% |
| 2023 | +440.7% | +561.4% |
| 2024 | -16.5% | -48.8% |
| 2025 | +9.9% | +57.7% |
| 2026 | +28.0% | +49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLSK and KEEL good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLSK and KEEL?
The CLSK/KEEL correlation stands at 0.70 on a 3-year window (1 year: 0.78, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is KEEL a good diversifier for CLSK?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 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-keel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clsk-vs-keel/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLSK correlations · KEEL correlations
