Hut 8 Corp. Common Stock (HUT) — Stock Correlations & Overview
Over the past year, HUT has moved most closely with MNRS, WGMI, BKCH. Explore the stocks most correlated and inversely correlated with HUT below, along with its price, financials, and company profile.
Stocks correlated with HUT
Correlation of daily returns. Higher positive values move with HUT; negative values move opposite it. Informational only, not investment advice.
Most correlated with HUT
| Symbol | Company | Correlation |
|---|---|---|
| MNRS | Grayscale Bitcoin Miners ETF | 0.87 |
| WGMI | CoinShares ETF Trust CoinShares Bitcoin Mining and Digital Power ETF | 0.87 |
| BKCH | Global X Blockchain ETF | 0.85 |
| STCE | Schwab Crypto Thematic Natural Language Processing ETF | 0.83 |
| NODE | VanEck Onchain Economy ETF | 0.83 |
Most inversely correlated with HUT
| Symbol | Company | Correlation |
|---|---|---|
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | -0.60 |
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | -0.60 |
| TZA | Direxion Daily Small Cap Bear 3x ETF | -0.57 |
| CORD | T-REX 2X Inverse CRWV Daily Target ETF | -0.57 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.57 |
Frequently asked questions about HUT correlations
- Which stocks are most correlated with HUT?
- Based on one year of daily returns, the stocks most correlated with Hut 8 Corp. Common Stock (HUT) are MNRS (0.87), WGMI (0.87) and BKCH (0.85). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with HUT?
- Over the past year, the stocks most inversely correlated with Hut 8 Corp. Common Stock (HUT) are TSXD (-0.60), BTAL (-0.60) and TZA (-0.57). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these HUT correlations calculated?
- We compute the correlation of daily returns between HUT and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.