HUT vs. ANET

Last updated Jun 9, 2026

HUT (Hut 8 Corp. Common Stock) and ANET (Arista Networks, Inc.) are both stocks. HUT operates in Capital Markets (Financial Services), while ANET operates in Computer Hardware (Technology). Over the past 5 years, HUT returned 42.61%/yr vs 47.39%/yr for ANET. At a 0.30 correlation, their price movements are largely independent.

Performance

HUT vs. ANET - Performance Comparison

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

Returns By Period

In the year-to-date period, HUT achieves a 160.34% return, which is significantly higher than ANET's 19.36% return.

HUT

• 1D: 6.56%
• 1M: 21.47%
• YTD: 160.34%
• 6M: 178.59%
• 1Y: 544.05%
• 3Y*: 132.23%
• 5Y*: 42.61%
• 10Y*: —

ANET

• 1D: 1.38%
• 1M: 10.32%
• YTD: 19.36%
• 6M: 21.14%
• 1Y: 60.82%
• 3Y*: 56.72%
• 5Y*: 47.39%
• 10Y*: 42.38%

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

HUT vs. ANET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HUT Hut 8 Corp. Common Stock	160.34%	124.21%	53.60%	213.88%	-89.17%	185.45%	250.63%	-25.02%	-70.92%
ANET Arista Networks, Inc.	19.36%	18.55%	87.73%	94.07%	-15.58%	97.89%	42.86%	-3.46%	-28.28%

Correlation

The correlation between HUT and ANET is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Mar 9, 2018	0.30

The correlation between HUT and ANET shifts across timeframes, from 0.30 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HUT : $13.28B ANET : $199.22B
EPS HUT : -$2.73 ANET : $2.92
PB Ratio HUT : 9.63 ANET : 14.77
Total Revenue (TTM) HUT : -$40.96M ANET : $9.71B
Gross Profit (TTM) HUT : -$132.19M ANET : $6.17B
EBITDA (TTM) HUT : -$306.16M ANET : $4.21B

Return for Risk

HUT vs. ANET — Risk / Return Rank

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

HUT

HUT Risk / Return Rank: 97
HUT Sharpe Ratio Rank: 99
HUT Sortino Ratio Rank: 95
HUT Omega Ratio Rank: 93
HUT Calmar Ratio Rank: 99
HUT Martin Ratio Rank: 99

ANET

ANET Risk / Return Rank: 74
ANET Sharpe Ratio Rank: 76
ANET Sortino Ratio Rank: 71
ANET Omega Ratio Rank: 70
ANET Calmar Ratio Rank: 77
ANET Martin Ratio Rank: 74

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.

HUT vs. ANET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hut 8 Corp. Common Stock (HUT) and Arista Networks, Inc. (ANET). 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.

	HUT	ANET	Difference
Sharpe ratio: Return per unit of total volatility	5.36	1.15	+4.21
Sortino ratio: Return per unit of downside risk	3.86	1.73	+2.12
Omega ratio: Gain probability vs. loss probability	1.49	1.22	+0.27
Calmar ratio: Return relative to maximum drawdown	14.21	2.16	+12.05
Martin ratio: Return relative to average drawdown	39.02	4.51	+34.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HUT vs. ANET - Sharpe Ratio Comparison

The current HUT Sharpe Ratio is 5.36, which is higher than the ANET Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of HUT and ANET, 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

	HUT	ANET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.36	1.15	+4.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	1.01	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.83	-0.60

Drawdowns

HUT vs. ANET - Drawdown Comparison

The maximum HUT drawdown since its inception was -95.04%, which is greater than ANET's maximum drawdown of -52.20%. Use the drawdown chart below to compare losses from any high point for HUT and ANET.

Drawdown Indicators

	HUT	ANET	Difference
Max Drawdown Largest peak-to-trough decline	-95.04%	-52.20%	-42.84%
Max Drawdown (1Y) Largest decline over 1 year	-38.62%	-28.33%	-10.29%
Max Drawdown (3Y) Largest decline over 3 years	-71.68%	-50.42%	-21.26%
Max Drawdown (5Y) Largest decline over 5 years	-95.04%	-50.42%	-44.62%
Max Drawdown (10Y) Largest decline over 10 years	—	-52.20%	—
Current Drawdown Current decline from peak	-10.09%	-12.00%	+1.91%
Average Drawdown Average peak-to-trough decline	-63.67%	-15.40%	-48.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.04%	13.53%	+0.51%

Volatility

HUT vs. ANET - Volatility Comparison

Hut 8 Corp. Common Stock (HUT) has a higher volatility of 24.05% compared to Arista Networks, Inc. (ANET) at 16.83%. This indicates that HUT's price experiences larger fluctuations and is considered to be riskier than ANET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HUT	ANET	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.05%	16.83%	+7.22%
Volatility (6M) Calculated over the trailing 6-month period	75.69%	40.41%	+35.28%
Volatility (1Y) Calculated over the trailing 1-year period	102.62%	53.48%	+49.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	106.40%	47.20%	+59.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.79%	44.99%	+69.80%

Dividends

HUT vs. ANET - Dividend Comparison

Neither HUT nor ANET has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both HUT and ANET in my portfolio?

HUT and ANET have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HUT or ANET?

HUT has higher volatility (24.05%) compared to ANET (16.83%). In terms of maximum drawdown, HUT dropped -95.04% vs ANET's -52.20%.

Which has better risk-adjusted returns?

HUT currently has the higher Sharpe Ratio (5.36 vs 1.15), 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.