BW vs. CLSK

Last updated Jun 18, 2026

BW (Babcock & Wilcox Enterprises, Inc.) and CLSK (CleanSpark, Inc.) are both stocks. BW operates in Specialty Industrial Machinery (Industrials), while CLSK operates in Capital Markets (Financial Services). Over the past 10 years, BW returned -21.80%/yr vs -5.64%/yr for CLSK. At a 0.23 correlation, their price movements are largely independent.

Performance

BW vs. CLSK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Babcock & Wilcox Enterprises, Inc. (BW) and CleanSpark, Inc. (CLSK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BW achieves a 177.68% return, which is significantly higher than CLSK's 65.81% return. Over the past 10 years, BW has underperformed CLSK with an annualized return of -21.80%, while CLSK has yielded a comparatively higher -5.64% annualized return.

BW

• 1D: 3.19%
• 1M: -12.63%
• YTD: 177.68%
• 6M: 279.41%
• 1Y: 1,705.80%
• 3Y*: 39.61%
• 5Y*: 18.61%
• 10Y*: -21.80%

CLSK

• 1D: -2.78%
• 1M: 24.85%
• YTD: 65.81%
• 6M: 46.17%
• 1Y: 88.54%
• 3Y*: 62.92%
• 5Y*: -2.15%
• 10Y*: -5.64%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BW vs. CLSK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BW Babcock & Wilcox Enterprises, Inc.	177.68%	286.59%	12.33%	-74.70%	-36.03%	156.98%	-3.57%	-6.76%	-93.13%	-65.76%
CLSK CleanSpark, Inc.	65.81%	9.88%	-16.50%	440.69%	-78.57%	-67.23%	442.99%	-73.90%	-15.98%	-30.29%

Correlation

The correlation between BW and CLSK is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 29, 2016	0.23

The correlation between BW and CLSK shifts across timeframes, from 0.23 (all time) to 0.37 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS BW : -$0.83 CLSK : -$2.24
PS Ratio BW : 2.93 CLSK : 5.07
Total Revenue (TTM) BW : $668.48M CLSK : $739.88M
Gross Profit (TTM) BW : $121.68M CLSK : $306.93M
EBITDA (TTM) BW : -$41.40M CLSK : -$103.41M

Return for Risk

BW vs. CLSK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BW

BW Risk / Return Rank: 99
BW Sharpe Ratio Rank: 100
BW Sortino Ratio Rank: 99
BW Omega Ratio Rank: 98
BW Calmar Ratio Rank: 100
BW Martin Ratio Rank: 100

CLSK

CLSK Risk / Return Rank: 69
CLSK Sharpe Ratio Rank: 72
CLSK Sortino Ratio Rank: 73
CLSK Omega Ratio Rank: 69
CLSK Calmar Ratio Rank: 68
CLSK Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BW vs. CLSK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Babcock & Wilcox Enterprises, Inc. (BW) and CleanSpark, Inc. (CLSK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BW	CLSK	Difference
Sharpe ratio: Return per unit of total volatility	13.67	1.01	+12.67
Sortino ratio: Return per unit of downside risk	5.67	1.81	+3.86
Omega ratio: Gain probability vs. loss probability	1.70	1.21	+0.49
Calmar ratio: Return relative to maximum drawdown	51.22	1.38	+49.84
Martin ratio: Return relative to average drawdown	137.08	2.28	+134.81

BW vs. CLSK - Sharpe Ratio Comparison

The current BW Sharpe Ratio is 13.67, which is higher than the CLSK Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of BW and CLSK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BW vs. CLSK - Drawdown Comparison

The maximum BW drawdown since its inception was -99.89%, roughly equal to the maximum CLSK drawdown of -98.56%. Use the drawdown chart below to compare losses from any high point for BW and CLSK.

Drawdown Indicators

	BW	CLSK	Difference
Max Drawdown Largest peak-to-trough decline	-99.89%	-98.56%	-1.33%
Max Drawdown (1Y) Largest decline over 1 year	-33.71%	-64.74%	+31.03%
Max Drawdown (3Y) Largest decline over 3 years	-96.03%	-71.28%	-24.75%
Max Drawdown (5Y) Largest decline over 5 years	-97.39%	-92.00%	-5.39%
Max Drawdown (10Y) Largest decline over 10 years	-99.87%	-98.56%	-1.31%
Current Drawdown Current decline from peak	-92.56%	-77.01%	-15.55%
Average Drawdown Average peak-to-trough decline	-82.81%	-69.76%	-13.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.57%	39.05%	-26.48%

Volatility

BW vs. CLSK - Volatility Comparison

Babcock & Wilcox Enterprises, Inc. (BW) has a higher volatility of 24.74% compared to CleanSpark, Inc. (CLSK) at 22.46%. This indicates that BW's price experiences larger fluctuations and is considered to be riskier than CLSK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BW	CLSK	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.74%	22.46%	+2.28%
Volatility (6M) Calculated over the trailing 6-month period	88.75%	60.42%	+28.33%
Volatility (1Y) Calculated over the trailing 1-year period	126.57%	88.76%	+37.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	110.22%	100.80%	+9.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	108.26%	183.27%	-75.01%

Dividends

BW vs. CLSK - Dividend Comparison

BW's dividend yield for the trailing twelve months is around 2.37%, while CLSK has not paid dividends to shareholders.

Position	TTM
BW Babcock & Wilcox Enterprises, Inc.	2.37%
CLSK CleanSpark, Inc.	0.00%

Financials

Frequently Asked Questions

Can I hold both BW and CLSK in my portfolio?

BW and CLSK have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BW or CLSK?

BW has higher volatility (24.74%) compared to CLSK (22.46%). In terms of maximum drawdown, BW dropped -99.89% vs CLSK's -98.56%.

Which has better risk-adjusted returns?

BW currently has the higher Sharpe Ratio (13.67 vs 1.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.