CORZ vs PWCM: Correlation
How closely do Core Scientific, Inc. (CORZ) and PowerCompute, Inc. (PWCM) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CORZ and PWCM?
Over the past 3 years, CORZ and PWCM moved with a correlation of 0.47, which is moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.47). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 4536.6 %².
Within CORZ's tracked universe of 19 assets, PWCM comes in at #8 by 3-year correlation. The last year tells two different stories: CORZ led by 120.2 percentage points, +24.1% for CORZ against -96.1% for PWCM.
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.
CORZ vs PWCM: side by side
| CORZ (Core Scientific, Inc.) | PWCM (PowerCompute, Inc.) | |
|---|---|---|
| 1-year return | +24.1% | -96.1% |
| 5-year return | n/a | -99.8% |
| Volatility (ann.) | 89.6% | 115.8% |
| Beta vs S&P 500 | 2.71 | 2.15 |
| Max drawdown (3Y) | -64.9% | -99.3% |
| Market cap | $5.7B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CORZ | PWCM |
|---|---|---|
| 2022 | – | -88.6% |
| 2023 | – | +11.8% |
| 2024 | – | -41.9% |
| 2025 | +3.6% | -79.3% |
| 2026 | +21.0% | -88.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CORZ and PWCM good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CORZ and PWCM?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.30 over the last year and n/a over 5 years.
Is PWCM a good diversifier for CORZ?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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/corz-vs-pwcm.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CORZ correlations · PWCM correlations
