HUT vs PWCM: Correlation
Hut 8 Corp. (HUT) and PowerCompute, Inc. (PWCM) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUT and PWCM?
Across a 3-year window, the weekly returns of HUT and PWCM correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.43, with an annualized covariance of 5241.2 %².
Within HUT's tracked universe of 19 assets, PWCM comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HUT outperformed by 326.8 percentage points (+230.7% for HUT against -96.1% for PWCM).
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.
HUT vs PWCM: side by side
| HUT (Hut 8 Corp.) | PWCM (PowerCompute, Inc.) | |
|---|---|---|
| 1-year return | +230.7% | -96.1% |
| 5-year return | +110.5% | -99.8% |
| Volatility (ann.) | 94.2% | 115.8% |
| Beta vs S&P 500 | 2.26 | 2.15 |
| Max drawdown (3Y) | -65.1% | -99.3% |
| Market cap | $10.7B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HUT | PWCM |
|---|---|---|
| 2022 | -89.2% | -88.6% |
| 2023 | +213.9% | +11.8% |
| 2024 | +53.6% | -41.9% |
| 2025 | +124.2% | -79.3% |
| 2026 | +89.7% | -88.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUT and PWCM good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HUT and PWCM?
The HUT/PWCM correlation stands at 0.48 on a 3-year window (1 year: 0.42, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is PWCM a good diversifier for HUT?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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/hut-vs-pwcm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hut-vs-pwcm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HUT correlations · PWCM correlations
