HIVE vs KEEL: Correlation
HIVE Digital Technologies Ltd (HIVE) and Keel Infrastructure Corp. (KEEL) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIVE and KEEL?
Over the past 3 years, HIVE and KEEL moved with a correlation of 0.72, which is strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 7356.7 %².
In HIVE's tracked universe of 19 assets, KEEL sits right near the top at #3. Correlation aside, the last 12 months split them widely, with KEEL ahead by 157.8 points (+4.1% 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.
HIVE vs KEEL: side by side
| HIVE (HIVE Digital Technologies Ltd) | KEEL (Keel Infrastructure Corp.) | |
|---|---|---|
| 1-year return | +4.1% | +161.9% |
| 5-year return | -80.7% | -41.1% |
| Volatility (ann.) | 94.1% | 108.4% |
| Beta vs S&P 500 | 2.26 | 2.18 |
| Max drawdown (3Y) | -77.1% | -81.1% |
| Market cap | $0.8B | $2.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIVE | KEEL |
|---|---|---|
| 2022 | -89.1% | -91.3% |
| 2023 | +214.6% | +561.4% |
| 2024 | -37.1% | -48.8% |
| 2025 | -9.5% | +57.7% |
| 2026 | +18.6% | +49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIVE and KEEL good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HIVE and KEEL?
As of 2026-08-27, the correlation of weekly returns between HIVE and KEEL is 0.72 over 3 years, 0.74 over 1 year and 0.80 over 5 years.
Is KEEL a good diversifier for HIVE?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 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/hive-vs-keel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hive-vs-keel/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HIVE correlations · KEEL correlations
