HIVE vs SCWO: Correlation
How closely do HIVE Digital Technologies Ltd (HIVE) and 374Water Inc. (SCWO) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIVE and SCWO?
On 3 years of weekly data the HIVE/SCWO correlation comes out at 0.40, moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.40). The 5-year figure is 0.28, and annualized covariance runs at 4497.0 %².
By 3-year correlation, SCWO places #12 of the 19 assets tracked against HIVE. The trailing year gives HIVE the advantage: +4.1% versus -10.7%, a 14.8-point spread.
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 SCWO: side by side
| HIVE (HIVE Digital Technologies Ltd) | SCWO (374Water Inc.) | |
|---|---|---|
| 1-year return | +4.1% | -10.7% |
| 5-year return | -80.7% | -85.7% |
| Volatility (ann.) | 94.1% | 118.3% |
| Beta vs S&P 500 | 2.26 | 0.98 |
| Max drawdown (3Y) | -77.1% | -90.9% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIVE | SCWO |
|---|---|---|
| 2022 | -89.1% | +0.4% |
| 2023 | +214.6% | -50.3% |
| 2024 | -37.1% | -52.1% |
| 2025 | -9.5% | -70.0% |
| 2026 | +18.6% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIVE and SCWO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HIVE and SCWO?
As of 2026-08-27, the correlation of weekly returns between HIVE and SCWO is 0.40 over 3 years, 0.52 over 1 year and 0.28 over 5 years.
Is SCWO a good diversifier for HIVE?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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
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[](https://www.pairbook.io/pair/hive-vs-scwo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HIVE correlations · SCWO correlations
