CLSK vs. BITO
CLSK (CleanSpark, Inc.) is a stock, while BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares. Over the past 3 years, CLSK returned 21.45%/yr vs 19.35%/yr for BITO. A 0.66 correlation means they provide meaningful diversification when combined.
Performance
CLSK vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, CLSK achieves a 22.13% return, which is significantly higher than BITO's -30.09% return.
CLSK
- 1D
- -3.81%
- 1M
- -25.00%
- 6M
- 3.34%
- YTD
- 22.13%
- 1Y
- -2.29%
- 3Y*
- 21.45%
- 5Y*
- -2.53%
- 10Y*
- -8.49%
BITO
- 1D
- -2.65%
- 1M
- -2.30%
- 6M
- -33.01%
- YTD
- -30.09%
- 1Y
- -49.36%
- 3Y*
- 19.35%
- 5Y*
- —
- 10Y*
- —
CLSK vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CLSK CleanSpark, Inc. | 22.13% | 9.88% | -16.50% | 440.69% | -78.57% | -41.52% |
BITO ProShares Bitcoin Strategy ETF | -30.09% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between CLSK and BITO is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.66 |
The correlation between CLSK and BITO has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.
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Return for Risk
CLSK vs. BITO — Risk / Return Rank
CLSK
BITO
CLSK vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CleanSpark, Inc. (CLSK) and ProShares Bitcoin Strategy ETF (BITO). 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.
| CLSK | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +2.38 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.81 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | -0.91 | +0.87 |
| Martin ratioReturn relative to average drawdown | -0.06 | -1.48 | +1.42 |
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Drawdowns
CLSK vs. BITO - Drawdown Comparison
The maximum CLSK drawdown since its inception was -98.56%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for CLSK and BITO.
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Drawdown Indicators
| CLSK | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.56% | -77.86% | -20.70% |
Max Drawdown (1Y)Largest decline over 1 year | -64.74% | -54.47% | -10.27% |
Max Drawdown (3Y)Largest decline over 3 years | -71.28% | -54.47% | -16.81% |
Max Drawdown (5Y)Largest decline over 5 years | -92.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -98.56% | — | — |
Current DrawdownCurrent decline from peak | -83.07% | -51.78% | -31.29% |
Average DrawdownAverage peak-to-trough decline | -69.82% | -37.03% | -32.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.20% | 33.47% | +6.73% |
Volatility
CLSK vs. BITO - Volatility Comparison
CleanSpark, Inc. (CLSK) has a higher volatility of 21.58% compared to ProShares Bitcoin Strategy ETF (BITO) at 11.12%. This indicates that CLSK's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLSK | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.58% | 11.12% | +10.46% |
Volatility (6M)Calculated over the trailing 6-month period | 60.59% | 34.48% | +26.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.71% | 44.12% | +43.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 101.00% | 54.84% | +46.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 183.37% | 54.84% | +128.53% |
Dividends
CLSK vs. BITO - Dividend Comparison
CLSK has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 62.24%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 62.24% | 78.29% | 61.59% | 15.14% |
CLSK CleanSpark, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CLSK and BITO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CLSK has higher volatility (21.58%) compared to BITO (11.12%). In terms of maximum drawdown, CLSK dropped -98.56% vs BITO's -77.86%.
CLSK currently has the higher Sharpe Ratio (-0.03 vs -1.12), 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.
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