SLNH vs. CLSK
SLNH (Soluna Holdings, Inc.) and CLSK (CleanSpark, Inc.) are both stocks. SLNH operates in Scientific & Technical Instruments (Technology), while CLSK operates in Capital Markets (Financial Services). Over the past 10 years, SLNH returned -17.33%/yr vs -6.17%/yr for CLSK. At a 0.31 correlation, their price movements are largely independent.
Performance
SLNH vs. CLSK - Performance Comparison
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Returns By Period
In the year-to-date period, SLNH achieves a 37.61% return, which is significantly lower than CLSK's 69.86% return. Over the past 10 years, SLNH has underperformed CLSK with an annualized return of -17.33%, while CLSK has yielded a comparatively higher -6.17% annualized return.
SLNH
- 1D
- -3.59%
- 1M
- -5.85%
- YTD
- 37.61%
- 6M
- 4.55%
- 1Y
- 195.14%
- 3Y*
- -30.88%
- 5Y*
- -61.38%
- 10Y*
- -17.33%
CLSK
- 1D
- -1.49%
- 1M
- 7.64%
- YTD
- 69.86%
- 6M
- 49.35%
- 1Y
- 94.24%
- 3Y*
- 55.29%
- 5Y*
- 0.69%
- 10Y*
- -6.17%
SLNH vs. CLSK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLNH Soluna Holdings, Inc. | 37.61% | -44.29% | -47.50% | -38.67% | -97.58% | 128.45% | 602.99% | 47.87% | -20.05% | -30.35% |
CLSK CleanSpark, Inc. | 69.86% | 9.88% | -16.50% | 440.69% | -78.57% | -67.23% | 442.99% | -73.90% | -15.98% | -30.29% |
Correlation
The correlation between SLNH and CLSK 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 | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
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 SLNH and CLSK shifts across timeframes, from 0.31 (all time) to 0.47 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
SLNH:
-$1.63
CLSK:
-$2.24
SLNH:
1.88
CLSK:
5.19
SLNH:
$33.18M
CLSK:
$739.88M
SLNH:
$28.87M
CLSK:
$306.93M
SLNH:
-$25.84M
CLSK:
-$103.41M
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Return for Risk
SLNH vs. CLSK — Risk / Return Rank
SLNH
CLSK
SLNH vs. CLSK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Soluna Holdings, Inc. (SLNH) and CleanSpark, Inc. (CLSK). 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.
| SLNH | CLSK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.22 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 1.46 | +0.81 |
| Martin ratioReturn relative to average drawdown | 3.15 | 2.42 | +0.74 |
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Drawdowns
SLNH vs. CLSK - Drawdown Comparison
The maximum SLNH drawdown since its inception was -99.90%, roughly equal to the maximum CLSK drawdown of -98.56%. Use the drawdown chart below to compare losses from any high point for SLNH and CLSK.
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Drawdown Indicators
| SLNH | CLSK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.90% | -98.56% | -1.34% |
Max Drawdown (1Y)Largest decline over 1 year | -86.26% | -64.74% | -21.52% |
Max Drawdown (3Y)Largest decline over 3 years | -95.57% | -71.28% | -24.29% |
Max Drawdown (5Y)Largest decline over 5 years | -99.90% | -92.00% | -7.90% |
Max Drawdown (10Y)Largest decline over 10 years | -99.90% | -98.56% | -1.34% |
Current DrawdownCurrent decline from peak | -99.61% | -76.45% | -23.16% |
Average DrawdownAverage peak-to-trough decline | -57.15% | -69.77% | +12.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 62.16% | 39.15% | +23.01% |
Volatility
SLNH vs. CLSK - Volatility Comparison
Soluna Holdings, Inc. (SLNH) has a higher volatility of 26.83% compared to CleanSpark, Inc. (CLSK) at 20.61%. This indicates that SLNH's price experiences larger fluctuations and is considered to be riskier than CLSK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLNH | CLSK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.83% | 20.61% | +6.22% |
Volatility (6M)Calculated over the trailing 6-month period | 102.12% | 60.33% | +41.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 204.99% | 88.39% | +116.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 143.89% | 100.73% | +43.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 128.70% | 183.32% | -54.62% |
Dividends
SLNH vs. CLSK - Dividend Comparison
Neither SLNH nor CLSK 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
SLNH vs. CLSK - Financials Comparison
This section allows you to compare key financial metrics between Soluna Holdings, Inc. and CleanSpark, 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
SLNH and CLSK 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 (26.83%) compared to CLSK (20.61%). In terms of maximum drawdown, SLNH dropped -99.90% vs CLSK's -98.56%.
CLSK currently has the higher Sharpe Ratio (1.07 vs 0.96), 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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