FUFU vs HUT: Correlation
Measured on weekly returns over the past three years, BitFuFu Inc. - Class A (FUFU) and Hut 8 Corp. (HUT) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUFU and HUT?
On 3 years of weekly data the FUFU/HUT correlation comes out at 0.32, moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. The 5-year figure is 0.22, and annualized covariance runs at 2541.4 %².
By 3-year correlation, HUT places #4 of the 11 assets tracked against FUFU. Correlation aside, the last 12 months split them widely, with HUT ahead by 294.4 points (-63.7% versus +230.7%).
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.
FUFU vs HUT: side by side
| FUFU (BitFuFu Inc. - Class A) | HUT (Hut 8 Corp.) | |
|---|---|---|
| 1-year return | -63.7% | +230.7% |
| 5-year return | -85.4% | +110.5% |
| Volatility (ann.) | 84.0% | 94.2% |
| Beta vs S&P 500 | 1.01 | 2.26 |
| Max drawdown (3Y) | -90.4% | -65.1% |
| Market cap | $0.2B | $10.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FUFU | HUT |
|---|---|---|
| 2022 | +3.5% | -89.2% |
| 2023 | +8.0% | +213.9% |
| 2024 | -54.6% | +53.6% |
| 2025 | -46.7% | +124.2% |
| 2026 | -46.2% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUFU and HUT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FUFU and HUT?
The FUFU/HUT correlation stands at 0.32 on a 3-year window (1 year: 0.33, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is HUT a good diversifier for FUFU?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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/fufu-vs-hut.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fufu-vs-hut/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FUFU correlations · HUT correlations
