CLSK vs. SLNH
CLSK (CleanSpark, Inc.) and SLNH (Soluna Holdings, Inc.) are both stocks. CLSK operates in Capital Markets (Financial Services), while SLNH operates in Scientific & Technical Instruments (Technology). Over the past 10 years, CLSK returned -6.12%/yr vs -17.81%/yr for SLNH. At a 0.31 correlation, their price movements are largely independent.
Performance
CLSK vs. SLNH - Performance Comparison
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Returns By Period
In the year-to-date period, CLSK achieves a 62.85% return, which is significantly higher than SLNH's 26.50% return. Over the past 10 years, CLSK has outperformed SLNH with an annualized return of -6.12%, while SLNH has yielded a comparatively lower -17.81% annualized return.
CLSK
- 1D
- 1.92%
- 1M
- 23.91%
- YTD
- 62.85%
- 6M
- 17.46%
- 1Y
- 69.72%
- 3Y*
- 61.95%
- 5Y*
- -2.03%
- 10Y*
- -6.12%
SLNH
- 1D
- 4.23%
- 1M
- -31.48%
- YTD
- 26.50%
- 6M
- -22.51%
- 1Y
- 129.53%
- 3Y*
- -32.05%
- 5Y*
- -62.46%
- 10Y*
- -17.81%
CLSK vs. SLNH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLSK CleanSpark, Inc. | 62.85% | 9.88% | -16.50% | 440.69% | -78.57% | -67.23% | 442.99% | -73.90% | -15.98% | -30.29% |
SLNH Soluna Holdings, Inc. | 26.50% | -44.29% | -47.50% | -38.67% | -97.58% | 128.45% | 602.99% | 47.87% | -20.05% | -30.35% |
Correlation
The correlation between CLSK and SLNH is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2016 | 0.31 |
The correlation between CLSK and SLNH shifts across timeframes, from 0.31 (all time) to 0.48 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CLSK:
-$2.24
SLNH:
-$1.63
CLSK:
4.98
SLNH:
1.73
CLSK:
$739.88M
SLNH:
$33.18M
CLSK:
$306.93M
SLNH:
$28.87M
CLSK:
-$103.41M
SLNH:
-$25.84M
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Return for Risk
CLSK vs. SLNH — Risk / Return Rank
CLSK
SLNH
CLSK vs. SLNH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CleanSpark, Inc. (CLSK) and Soluna Holdings, Inc. (SLNH). 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 | SLNH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.51 | -0.43 |
| Martin ratioReturn relative to average drawdown | 1.80 | 2.12 | -0.32 |
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Drawdowns
CLSK vs. SLNH - Drawdown Comparison
The maximum CLSK drawdown since its inception was -98.56%, roughly equal to the maximum SLNH drawdown of -99.90%. Use the drawdown chart below to compare losses from any high point for CLSK and SLNH.
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Drawdown Indicators
| CLSK | SLNH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.56% | -99.90% | +1.34% |
Max Drawdown (1Y)Largest decline over 1 year | -64.74% | -86.26% | +21.52% |
Max Drawdown (3Y)Largest decline over 3 years | -71.28% | -95.57% | +24.29% |
Max Drawdown (5Y)Largest decline over 5 years | -92.00% | -99.90% | +7.90% |
Max Drawdown (10Y)Largest decline over 10 years | -98.56% | -99.90% | +1.34% |
Current DrawdownCurrent decline from peak | -77.42% | -99.64% | +22.22% |
Average DrawdownAverage peak-to-trough decline | -69.75% | -57.09% | -12.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.95% | 61.47% | -22.52% |
Volatility
CLSK vs. SLNH - Volatility Comparison
The current volatility for CleanSpark, Inc. (CLSK) is 23.60%, while Soluna Holdings, Inc. (SLNH) has a volatility of 27.99%. This indicates that CLSK experiences smaller price fluctuations and is considered to be less risky than SLNH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLSK | SLNH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.60% | 27.99% | -4.39% |
Volatility (6M)Calculated over the trailing 6-month period | 62.76% | 106.43% | -43.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.85% | 204.75% | -115.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 100.81% | 143.74% | -42.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 183.25% | 128.56% | +54.69% |
Dividends
CLSK vs. SLNH - Dividend Comparison
Neither CLSK nor SLNH has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CLSK CleanSpark, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLNH Soluna Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 110.45% |
Financials
CLSK vs. SLNH - Financials Comparison
This section allows you to compare key financial metrics between CleanSpark, Inc. and Soluna Holdings, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
CLSK and SLNH have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLNH has higher volatility (27.99%) compared to CLSK (23.60%). In terms of maximum drawdown, CLSK dropped -98.56% vs SLNH's -99.90%.
CLSK currently has the higher Sharpe Ratio (0.79 vs 0.64), 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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