CIFR vs. CIFRW

Last updated Jun 4, 2026

CIFR (Cipher Mining Inc.) and CIFRW (Cipher Mining Inc) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past 3 years, CIFR returned 116.66%/yr vs 94.02%/yr for CIFRW. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

CIFR vs. CIFRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cipher Mining Inc. (CIFR) and Cipher Mining Inc (CIFRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CIFR

• 1D: -0.19%
• 1M: 46.67%
• YTD: 77.78%
• 6M: 40.85%
• 1Y: 663.90%
• 3Y*: 116.66%
• 5Y*: —
• 10Y*: —

CIFRW

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -17.87%
• 1Y: 789.13%
• 3Y*: 94.02%
• 5Y*: 20.35%
• 10Y*: —

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

CIFR vs. CIFRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CIFR Cipher Mining Inc.	77.78%	218.10%	12.35%	637.50%	-87.90%	-54.92%
CIFRW Cipher Mining Inc	0.00%	202.27%	-21.79%	2,778.54%	-94.68%	-48.41%

Correlation

The correlation between CIFR and CIFRW is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (All Time) Calculated using the full available price history since Aug 31, 2021	0.59

The correlation between CIFR and CIFRW shifts across timeframes, from 0.56 (1 year) to 0.67 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CIFR : $10.63B CIFRW : $1.66B
EPS CIFR : -$2.33 CIFRW : -$2.33
PS Ratio CIFR : 57.66 CIFRW : 8.99
PB Ratio CIFR : 14.88 CIFRW : 2.32
Total Revenue (TTM) CIFR : $174.98M CIFRW : $174.98M
Gross Profit (TTM) CIFR : -$172.84M CIFRW : -$172.84M
EBITDA (TTM) CIFR : -$169.22M CIFRW : -$169.22M

Return for Risk

CIFR vs. CIFRW — Risk / Return Rank

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

CIFR

CIFR Risk / Return Rank: 96
CIFR Sharpe Ratio Rank: 99
CIFR Sortino Ratio Rank: 95
CIFR Omega Ratio Rank: 92
CIFR Calmar Ratio Rank: 98
CIFR Martin Ratio Rank: 97

CIFRW

CIFRW Risk / Return Rank: 97
CIFRW Sharpe Ratio Rank: 99
CIFRW Sortino Ratio Rank: 95
CIFRW Omega Ratio Rank: 96
CIFRW Calmar Ratio Rank: 99
CIFRW Martin Ratio Rank: 96

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.

CIFR vs. CIFRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cipher Mining Inc. (CIFR) and Cipher Mining Inc (CIFRW). 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.

	CIFR	CIFRW	Difference
Sharpe ratio: Return per unit of total volatility	6.19	6.50	-0.31
Sortino ratio: Return per unit of downside risk	4.23	4.03	+0.20
Omega ratio: Gain probability vs. loss probability	1.49	1.61	-0.12
Calmar ratio: Return relative to maximum drawdown	13.04	15.45	-2.41
Martin ratio: Return relative to average drawdown	26.19	21.95	+4.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIFR vs. CIFRW - Sharpe Ratio Comparison

The current CIFR Sharpe Ratio is 6.19, which is comparable to the CIFRW Sharpe Ratio of 6.50. The chart below compares the historical Sharpe Ratios of CIFR and CIFRW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CIFR	CIFRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.19	6.50	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.21	-0.03

Drawdowns

CIFR vs. CIFRW - Drawdown Comparison

The maximum CIFR drawdown since its inception was -97.16%, roughly equal to the maximum CIFRW drawdown of -98.68%. Use the drawdown chart below to compare losses from any high point for CIFR and CIFRW.

Drawdown Indicators

	CIFR	CIFRW	Difference
Max Drawdown Largest peak-to-trough decline	-97.16%	-98.68%	+1.52%
Max Drawdown (1Y) Largest decline over 1 year	-51.38%	-71.70%	+20.32%
Max Drawdown (3Y) Largest decline over 3 years	-71.74%	-90.70%	+18.96%
Max Drawdown (5Y) Largest decline over 5 years	—	-98.57%	—
Current Drawdown Current decline from peak	-0.19%	-69.86%	+69.67%
Average Drawdown Average peak-to-trough decline	-66.62%	-64.72%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.53%	47.53%	-22.00%

Volatility

CIFR vs. CIFRW - Volatility Comparison

Cipher Mining Inc. (CIFR) has a higher volatility of 31.03% compared to Cipher Mining Inc (CIFRW) at 0.00%. This indicates that CIFR's price experiences larger fluctuations and is considered to be riskier than CIFRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIFR	CIFRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.03%	0.00%	+31.03%
Volatility (6M) Calculated over the trailing 6-month period	70.59%	92.75%	-22.16%
Volatility (1Y) Calculated over the trailing 1-year period	108.31%	170.68%	-62.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	121.98%	180.22%	-58.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.98%	181.39%	-59.41%

Dividends

CIFR vs. CIFRW - Dividend Comparison

Neither CIFR nor CIFRW has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both CIFR and CIFRW in my portfolio?

CIFR and CIFRW have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIFR or CIFRW?

CIFR has higher volatility (31.03%) compared to CIFRW (0.00%). In terms of maximum drawdown, CIFR dropped -97.16% vs CIFRW's -98.68%.

Which has better risk-adjusted returns?

CIFRW currently has the higher Sharpe Ratio (6.50 vs 6.19), 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.