HUT vs RIOT: Correlation
Measured on weekly returns over the past three years, Hut 8 Corp. (HUT) and Riot Platforms, Inc. (RIOT) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUT and RIOT?
On 3 years of weekly data the HUT/RIOT correlation comes out at 0.71, strong. The relationship has been stable: the 1-year correlation (0.79) sits close to the 3-year figure. The 5-year figure is 0.77, and annualized covariance runs at 5536.1 %².
RIOT is one of the assets that tracks HUT most closely: it ranks #2 out of the 19 assets we track against HUT. Their recent paths diverged sharply: over the last 12 months HUT outperformed by 176.6 percentage points (+230.7% for HUT 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.
HUT vs RIOT: side by side
| HUT (Hut 8 Corp.) | RIOT (Riot Platforms, Inc.) | |
|---|---|---|
| 1-year return | +230.7% | +54.1% |
| 5-year return | +110.5% | -44.6% |
| Volatility (ann.) | 94.2% | 82.3% |
| Beta vs S&P 500 | 2.26 | 2.40 |
| Max drawdown (3Y) | -65.1% | -66.2% |
| Market cap | $10.7B | $7.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HUT | RIOT |
|---|---|---|
| 2022 | -89.2% | -84.8% |
| 2023 | +213.9% | +356.3% |
| 2024 | +53.6% | -34.0% |
| 2025 | +124.2% | +24.1% |
| 2026 | +89.7% | +64.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUT and RIOT good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HUT and RIOT?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.79 over the last year and 0.77 over 5 years.
Is RIOT a good diversifier for HUT?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
A reading of 0.71 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/hut-vs-riot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hut-vs-riot/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HUT correlations · RIOT correlations
