HIVE vs ZONE: Correlation
HIVE Digital Technologies Ltd (HIVE) and CleanCore Solutions Inc. (ZONE) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIVE and ZONE?
Over the past 3 years, HIVE and ZONE moved with a correlation of 0.39, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 5586.5 %².
Within HIVE's tracked universe of 19 assets, ZONE comes in at #13 by 3-year correlation. The last year tells two different stories: HIVE led by 101.8 percentage points, +4.1% for HIVE against -97.7% for ZONE. One caveat on sizing: ZONE is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 ZONE: side by side
| HIVE (HIVE Digital Technologies Ltd) | ZONE (CleanCore Solutions Inc.) | |
|---|---|---|
| 1-year return | +4.1% | -97.7% |
| 5-year return | -80.7% | n/a |
| Volatility (ann.) | 94.1% | 149.2% |
| Beta vs S&P 500 | 2.26 | 0.94 |
| Max drawdown (3Y) | -77.1% | -97.9% |
| 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 | ZONE |
|---|---|---|
| 2022 | -89.1% | – |
| 2023 | +214.6% | – |
| 2024 | -37.1% | – |
| 2025 | -9.5% | -79.8% |
| 2026 | +18.6% | -43.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIVE and ZONE good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HIVE and ZONE?
As of 2026-08-27, the correlation of weekly returns between HIVE and ZONE is 0.39 over 3 years, 0.48 over 1 year and n/a over 5 years.
Is ZONE a good diversifier for HIVE?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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-zone.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hive-vs-zone/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HIVE correlations · ZONE correlations
