DGXX vs HUT: Correlation
Measured on weekly returns over the past three years, Digi Power X Inc. - Common Subordinate Voting Shares (DGXX) and Hut 8 Corp. (HUT) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGXX and HUT?
Over the past 3 years, DGXX and HUT moved with a correlation of 0.46, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 5046.4 %².
Within DGXX's tracked universe of 11 assets, HUT comes in at #5 by 3-year correlation. The last year tells two different stories: HUT led by 151.6 percentage points, +79.1% for DGXX against +230.7% for HUT.
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.
DGXX vs HUT: side by side
| DGXX (Digi Power X Inc. - Common Subordinate Voting Shares) | HUT (Hut 8 Corp.) | |
|---|---|---|
| 1-year return | +79.1% | +230.7% |
| 5-year return | -21.0% | +110.5% |
| Volatility (ann.) | 116.4% | 94.2% |
| Beta vs S&P 500 | 2.42 | 2.26 |
| Max drawdown (3Y) | -75.9% | -65.1% |
| Market cap | $0.4B | $10.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGXX | HUT |
|---|---|---|
| 2022 | -92.2% | -89.2% |
| 2023 | +536.1% | +213.9% |
| 2024 | -34.5% | +53.6% |
| 2025 | +70.0% | +124.2% |
| 2026 | +58.0% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGXX and HUT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DGXX and HUT?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.53 over the last year and 0.55 over 5 years.
Is HUT a good diversifier for DGXX?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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/dgxx-vs-hut.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgxx-vs-hut/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGXX correlations · HUT correlations
