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 33.07%/yr vs 21.20%/yr for BITO. Their 0.66 correlation means they have sometimes moved together and sometimes differently.
Performance
CLSK vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, CLSK achieves a 35.97% return, which is significantly higher than BITO's -29.42% return.
CLSK
- 1D
- -5.36%
- 1M
- 9.03%
- 6M
- 16.22%
- YTD
- 35.97%
- 1Y
- 31.80%
- 3Y*
- 33.07%
- 5Y*
- 0.38%
- 10Y*
- -8.38%
- ALL TIME*
- -8.51%
BITO
- 1D
- -2.85%
- 1M
- 2.16%
- 6M
- -26.02%
- YTD
- -29.42%
- 1Y
- -46.40%
- 3Y*
- 21.20%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -5.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.89B | $2.63B | $2.08B | |
CLSK CleanSpark, Inc. | $327.78M | $326.87M | $348.43M |
CLSK vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CLSK CleanSpark, Inc. | 35.97% | 9.88% | -16.50% | 440.69% | -78.57% | -41.52% |
BITO ProShares Bitcoin Strategy ETF | -29.42% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between CLSK and BITO is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
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 | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.81 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | -0.89 | +1.21 |
| Martin ratioReturn relative to average drawdown | 0.52 | -1.36 | +1.88 |
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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 | -81.15% | -51.32% | -29.83% |
Average DrawdownAverage peak-to-trough decline | -69.88% | -37.18% | -32.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.64% | 35.48% | +5.16% |
Volatility
CLSK vs. BITO - Volatility Comparison
CleanSpark, Inc. (CLSK) has a higher volatility of 34.52% compared to ProShares Bitcoin Strategy ETF (BITO) at 8.96%. 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 | 34.52% | 8.96% | +25.56% |
Volatility (6M)Calculated over the trailing 6-month period | 65.27% | 33.45% | +31.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 92.54% | 44.19% | +48.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 101.67% | 54.60% | +47.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 183.55% | 54.60% | +128.95% |
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 61.66%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 47.47% | 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 (34.52%) compared to BITO (8.96%). In terms of maximum drawdown, CLSK dropped -98.56% vs BITO's -77.86%.
CLSK currently has the higher Sharpe Ratio (0.23 vs -1.09), 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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