MARA vs. CIFR

Last updated Aug 1, 2026

MARA (MARA Holdings, Inc.) and CIFR (Cipher Digital Inc.) are both stocks. MARA operates in Capital Markets (Financial Services), while CIFR operates in Information Technology Services (Technology). Over the past 3 years, MARA returned -12.38%/yr vs 84.92%/yr for CIFR. Their 0.63 correlation means they have sometimes moved together and sometimes differently.

Performance

MARA vs. CIFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MARA Holdings, Inc. (MARA) and Cipher Digital Inc. (CIFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MARA achieves a 26.06% return, which is significantly lower than CIFR's 51.22% return.

MARA

• 1D: -4.23%
• 1M: -8.71%
• 6M: 19.16%
• YTD: 26.06%
• 1Y: -26.97%
• 3Y*: -12.38%
• 5Y*: -16.34%
• 10Y*: -13.31%
• ALL TIME*: -10.28%

CIFR

• 1D: -1.48%
• 1M: 11.38%
• 6M: 39.85%
• YTD: 51.22%
• 1Y: 352.74%
• 3Y*: 84.92%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.24%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CIFR Cipher Digital Inc.	$699.13M	$580.45M	$601.55M
MARA MARA Holdings, Inc.	$650.73M	$599.97M	$583.47M

MARA vs. CIFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MARA MARA Holdings, Inc.	26.06%	-46.45%	-28.61%	586.84%	-89.59%	-18.26%
CIFR Cipher Digital Inc.	51.22%	218.10%	12.35%	637.50%	-87.90%	-54.65%

Correlation

The correlation between MARA and CIFR is 0.66, 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.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (All Time) Calculated using the full available price history since Aug 30, 2021	0.63

The correlation between MARA and CIFR has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

Fundamentals

Market Cap MARA : $4.32B CIFR : $9.13B
EPS MARA : -$5.07 CIFR : -$2.32
PS Ratio MARA : 5.24 CIFR : 49.45
Total Revenue (TTM) MARA : $867.82M CIFR : $174.98M
Gross Profit (TTM) MARA : $164.95M CIFR : -$172.84M
EBITDA (TTM) MARA : $373.68M CIFR : -$169.22M

Return for Risk

MARA vs. CIFR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MARA

MARA Risk / Return Rank: 31
MARA Sharpe Ratio Rank: 28
MARA Sortino Ratio Rank: 32
MARA Omega Ratio Rank: 32
MARA Calmar Ratio Rank: 30
MARA Martin Ratio Rank: 32

CIFR

CIFR Risk / Return Rank: 94
CIFR Sharpe Ratio Rank: 96
CIFR Sortino Ratio Rank: 93
CIFR Omega Ratio Rank: 89
CIFR Calmar Ratio Rank: 97
CIFR Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MARA vs. CIFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MARA Holdings, Inc. (MARA) and Cipher Digital Inc. (CIFR). 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.

	MARA	CIFR	Difference
Sharpe ratio: Return per unit of total volatility	-0.36	2.69	-3.05
Sortino ratio: Return per unit of downside risk	-0.03	3.03	-3.06
Omega ratio: Gain probability vs. loss probability	1.00	1.35	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.42	6.06	-6.48
Martin ratio: Return relative to average drawdown	-0.66	11.90	-12.56

MARA vs. CIFR - Sharpe Ratio Comparison

The current MARA Sharpe Ratio is -0.36, which is lower than the CIFR Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of MARA and CIFR, 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

MARA vs. CIFR - Drawdown Comparison

The maximum MARA drawdown since its inception was -99.74%, roughly equal to the maximum CIFR drawdown of -97.16%. Use the drawdown chart below to compare losses from any high point for MARA and CIFR.

Drawdown Indicators

	MARA	CIFR	Difference
Max Drawdown Largest peak-to-trough decline	-99.74%	-97.16%	-2.58%
Max Drawdown (1Y) Largest decline over 1 year	-70.53%	-51.38%	-19.15%
Max Drawdown (3Y) Largest decline over 3 years	-78.34%	-71.74%	-6.60%
Max Drawdown (5Y) Largest decline over 5 years	-95.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.19%	—	—
Current Drawdown Current decline from peak	-92.68%	-23.51%	-69.17%
Average Drawdown Average peak-to-trough decline	-78.13%	-65.01%	-13.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.73%	26.14%	+18.59%

Volatility

MARA vs. CIFR - Volatility Comparison

The current volatility for MARA Holdings, Inc. (MARA) is 31.27%, while Cipher Digital Inc. (CIFR) has a volatility of 46.50%. This indicates that MARA experiences smaller price fluctuations and is considered to be less risky than CIFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MARA	CIFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.27%	46.50%	-15.23%
Volatility (6M) Calculated over the trailing 6-month period	64.18%	79.79%	-15.61%
Volatility (1Y) Calculated over the trailing 1-year period	82.43%	115.46%	-33.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	106.03%	122.42%	-16.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.42%	122.42%	+22.00%

Dividends

MARA vs. CIFR - Dividend Comparison

Neither MARA nor CIFR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both MARA and CIFR in my portfolio?

MARA and CIFR have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MARA or CIFR?

CIFR has higher volatility (46.50%) compared to MARA (31.27%). In terms of maximum drawdown, MARA dropped -99.74% vs CIFR's -97.16%.

Which has better risk-adjusted returns?

CIFR currently has the higher Sharpe Ratio (2.69 vs -0.36), 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.