HIVE vs RIOT: Correlation
How closely do HIVE Digital Technologies Ltd (HIVE) and Riot Platforms, Inc. (RIOT) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIVE and RIOT?
Over the past 3 years, HIVE and RIOT moved with a correlation of 0.73, which is strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 5650.2 %².
Few assets follow HIVE as closely as RIOT, which ranks #2 of 19 tracked partners. The last year tells two different stories: RIOT led by 50.0 percentage points, +4.1% for HIVE against +54.1% for RIOT.
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 RIOT: side by side
| HIVE (HIVE Digital Technologies Ltd) | RIOT (Riot Platforms, Inc.) | |
|---|---|---|
| 1-year return | +4.1% | +54.1% |
| 5-year return | -80.7% | -44.6% |
| Volatility (ann.) | 94.1% | 82.3% |
| Beta vs S&P 500 | 2.26 | 2.40 |
| Max drawdown (3Y) | -77.1% | -66.2% |
| Market cap | $0.8B | $7.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIVE | RIOT |
|---|---|---|
| 2022 | -89.1% | -84.8% |
| 2023 | +214.6% | +356.3% |
| 2024 | -37.1% | -34.0% |
| 2025 | -9.5% | +24.1% |
| 2026 | +18.6% | +64.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIVE and RIOT good diversifiers for each other?
Only partially. A correlation of 0.73 means HIVE and RIOT 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 RIOT?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.64 over the last year and 0.76 over 5 years.
Is RIOT a good diversifier for HIVE?
Only partially. A correlation of 0.73 means HIVE and RIOT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 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-riot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hive-vs-riot/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HIVE correlations · RIOT correlations
