CLSK vs. HUT

Last updated Jul 11, 2026

CLSK (CleanSpark, Inc.) and HUT (Hut 8 Corp.) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past 5 years, CLSK returned -3.95%/yr vs 33.40%/yr for HUT. At a 0.47 correlation, their price movements are largely independent.

Performance

CLSK vs. HUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CleanSpark, Inc. (CLSK) and Hut 8 Corp. (HUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLSK achieves a 26.98% return, which is significantly lower than HUT's 122.51% return.

CLSK

• 1D: -0.31%
• 1M: -13.76%
• 6M: 10.68%
• YTD: 26.98%
• 1Y: -0.39%
• 3Y*: 26.02%
• 5Y*: -3.95%
• 10Y*: -8.69%

HUT

• 1D: -3.77%
• 1M: -3.27%
• 6M: 70.25%
• YTD: 122.51%
• 1Y: 363.16%
• 3Y*: 76.00%
• 5Y*: 33.40%
• 10Y*: —

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

CLSK vs. HUT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CLSK CleanSpark, Inc.	26.98%	9.88%	-16.50%	440.69%	-78.57%	-67.23%	442.99%	-73.90%	28.93%
HUT Hut 8 Corp.	122.51%	124.21%	53.60%	213.88%	-89.17%	185.45%	250.63%	-25.02%	-70.80%

Correlation

The correlation between CLSK and HUT is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Mar 8, 2018	0.47

Over the past year, CLSK and HUT have become more correlated (0.70) than their long-term average of 0.47, meaning their price movements have been converging.

Fundamentals

Market Cap CLSK : $3.30B HUT : $11.51B
EPS CLSK : -$2.64 HUT : -$2.77
Total Revenue (TTM) CLSK : $739.88M HUT : -$40.96M
Gross Profit (TTM) CLSK : $306.93M HUT : -$132.19M
EBITDA (TTM) CLSK : -$103.41M HUT : -$306.16M

Return for Risk

CLSK vs. HUT — Risk / Return Rank

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

CLSK

CLSK Risk / Return Rank: 47
CLSK Sharpe Ratio Rank: 45
CLSK Sortino Ratio Rank: 50
CLSK Omega Ratio Rank: 48
CLSK Calmar Ratio Rank: 45
CLSK Martin Ratio Rank: 44

HUT

HUT Risk / Return Rank: 96
HUT Sharpe Ratio Rank: 98
HUT Sortino Ratio Rank: 93
HUT Omega Ratio Rank: 91
HUT Calmar Ratio Rank: 98
HUT Martin Ratio Rank: 98

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.

CLSK vs. HUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CleanSpark, Inc. (CLSK) and Hut 8 Corp. (HUT). 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	HUT	Difference
Sharpe ratio: Return per unit of total volatility	-0.00	3.56	-3.56
Sortino ratio: Return per unit of downside risk	0.65	3.26	-2.62
Omega ratio: Gain probability vs. loss probability	1.07	1.40	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.01	9.48	-9.48
Martin ratio: Return relative to average drawdown	-0.01	24.77	-24.78

CLSK vs. HUT - Sharpe Ratio Comparison

The current CLSK Sharpe Ratio is -0.00, which is lower than the HUT Sharpe Ratio of 3.56. The chart below compares the historical Sharpe Ratios of CLSK and HUT, 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

CLSK vs. HUT - Drawdown Comparison

The maximum CLSK drawdown since its inception was -98.56%, roughly equal to the maximum HUT drawdown of -95.04%. Use the drawdown chart below to compare losses from any high point for CLSK and HUT.

Drawdown Indicators

	CLSK	HUT	Difference
Max Drawdown Largest peak-to-trough decline	-98.56%	-95.04%	-3.52%
Max Drawdown (1Y) Largest decline over 1 year	-64.74%	-38.62%	-26.12%
Max Drawdown (3Y) Largest decline over 3 years	-71.28%	-71.68%	+0.40%
Max Drawdown (5Y) Largest decline over 5 years	-92.00%	-95.04%	+3.04%
Max Drawdown (10Y) Largest decline over 10 years	-98.56%	—	—
Current Drawdown Current decline from peak	-82.40%	-23.15%	-59.25%
Average Drawdown Average peak-to-trough decline	-69.82%	-63.12%	-6.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.10%	14.75%	+25.35%

Volatility

CLSK vs. HUT - Volatility Comparison

The current volatility for CleanSpark, Inc. (CLSK) is 22.23%, while Hut 8 Corp. (HUT) has a volatility of 24.42%. This indicates that CLSK experiences smaller price fluctuations and is considered to be less risky than HUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLSK	HUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.23%	24.42%	-2.19%
Volatility (6M) Calculated over the trailing 6-month period	60.47%	71.69%	-11.22%
Volatility (1Y) Calculated over the trailing 1-year period	87.53%	102.93%	-15.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	100.97%	105.52%	-4.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	183.31%	114.48%	+68.83%

Dividends

CLSK vs. HUT - Dividend Comparison

Neither CLSK nor HUT has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both CLSK and HUT in my portfolio?

CLSK and HUT have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLSK or HUT?

HUT has higher volatility (24.42%) compared to CLSK (22.23%). In terms of maximum drawdown, CLSK dropped -98.56% vs HUT's -95.04%.

Which has better risk-adjusted returns?

HUT currently has the higher Sharpe Ratio (3.56 vs -0.00), 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.