HIVE vs MARA: Correlation
How closely do HIVE Digital Technologies Ltd (HIVE) and MARA Holdings, Inc. (MARA) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIVE and MARA?
Across a 3-year window, the weekly returns of HIVE and MARA correlate at 0.70, strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 5550.0 %².
By 3-year correlation, MARA places #5 of the 19 assets tracked against HIVE. Correlation aside, the last 12 months split them widely, with HIVE ahead by 29.2 points (+4.1% versus -25.1%).
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 MARA: side by side
| HIVE (HIVE Digital Technologies Ltd) | MARA (MARA Holdings, Inc.) | |
|---|---|---|
| 1-year return | +4.1% | -25.1% |
| 5-year return | -80.7% | -70.7% |
| Volatility (ann.) | 94.1% | 83.9% |
| Beta vs S&P 500 | 2.26 | 2.07 |
| Max drawdown (3Y) | -77.1% | -78.3% |
| Market cap | $0.8B | $4.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIVE | MARA |
|---|---|---|
| 2022 | -89.1% | -89.6% |
| 2023 | +214.6% | +586.8% |
| 2024 | -37.1% | -28.6% |
| 2025 | -9.5% | -46.5% |
| 2026 | +18.6% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIVE and MARA good diversifiers for each other?
Only partially. A correlation of 0.70 means HIVE and MARA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HIVE and MARA?
As of 2026-08-27, the correlation of weekly returns between HIVE and MARA is 0.70 over 3 years, 0.64 over 1 year and 0.76 over 5 years.
Is MARA a good diversifier for HIVE?
Only partially. A correlation of 0.70 means HIVE and MARA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 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/hive-vs-mara.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hive-vs-mara/)
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Related comparisons
Hubs: HIVE correlations · MARA correlations
