MARA vs RIOT: Correlation
MARA Holdings, Inc. (MARA) and Riot Platforms, Inc. (RIOT) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MARA and RIOT?
Over the past 3 years, MARA and RIOT moved with a correlation of 0.74, which is strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 5129.1 %².
In MARA's tracked universe of 21 assets, RIOT sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months RIOT outperformed by 79.2 percentage points (-25.1% for MARA 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.
MARA vs RIOT: side by side
| MARA (MARA Holdings, Inc.) | RIOT (Riot Platforms, Inc.) | |
|---|---|---|
| 1-year return | -25.1% | +54.1% |
| 5-year return | -70.7% | -44.6% |
| Volatility (ann.) | 83.9% | 82.3% |
| Beta vs S&P 500 | 2.07 | 2.40 |
| Max drawdown (3Y) | -78.3% | -66.2% |
| Market cap | $4.6B | $7.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MARA | RIOT |
|---|---|---|
| 2022 | -89.6% | -84.8% |
| 2023 | +586.8% | +356.3% |
| 2024 | -28.6% | -34.0% |
| 2025 | -46.5% | +24.1% |
| 2026 | +32.2% | +64.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MARA and RIOT good diversifiers for each other?
Only partially. A correlation of 0.74 means MARA 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 MARA and RIOT?
The MARA/RIOT correlation stands at 0.74 on a 3-year window (1 year: 0.75, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is RIOT a good diversifier for MARA?
Only partially. A correlation of 0.74 means MARA 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 0.74 mean?
On the −1 to +1 scale, 0.74 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mara-vs-riot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mara-vs-riot/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MARA correlations · RIOT correlations
