CLSK vs VXZ: Correlation
How closely do CleanSpark, Inc. (CLSK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLSK and VXZ?
Over the past 3 years, CLSK and VXZ moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -684.9 %².
VXZ is close to the least connected end of CLSK's tracked universe, ranking #14 of 15. The last year tells two different stories: CLSK led by 51.3 percentage points, +35.2% for CLSK against -16.1% for VXZ. One caveat on sizing: CLSK is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VXZ: side by side
| CLSK (CleanSpark, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.2% | -16.1% |
| 5-year return | -5.1% | -53.1% |
| Volatility (ann.) | 104.3% | 25.6% |
| Beta vs S&P 500 | 2.12 | -1.31 |
| Max drawdown (3Y) | -71.3% | -36.4% |
| Market cap | $3.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLSK | VXZ |
|---|---|---|
| 2022 | -78.6% | +0.5% |
| 2023 | +440.7% | -44.0% |
| 2024 | -16.5% | -12.7% |
| 2025 | +9.9% | +5.7% |
| 2026 | +28.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLSK and VXZ good diversifiers for each other?
Yes. With a correlation of -0.26, CLSK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLSK and VXZ?
The CLSK/VXZ correlation stands at -0.26 on a 3-year window (1 year: -0.29, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CLSK?
Yes. With a correlation of -0.26, CLSK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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
$ curl https://www.pairbook.io/api/v1/pairs/clsk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clsk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLSK correlations · VXZ correlations
