Correlation Between CleanSpark and Greenhill

Can any of the company-specific risk be diversified away by investing in both CleanSpark and Greenhill at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining CleanSpark and Greenhill into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between CleanSpark and Greenhill Co, you can compare the effects of market volatilities on CleanSpark and Greenhill and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in CleanSpark with a short position of Greenhill. Check out your portfolio center. Please also check ongoing floating volatility patterns of CleanSpark and Greenhill.

Diversification Opportunities for CleanSpark and Greenhill

0.0

Correlation Coefficient

CleanSpark  Greenhill

Pay attention - limited upside

The 3 months correlation between CleanSpark and Greenhill is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CleanSpark and Greenhill Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Greenhill and CleanSpark is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on CleanSpark are associated (or correlated) with Greenhill. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Greenhill has no effect on the direction of CleanSpark i.e., CleanSpark and Greenhill go up and down completely randomly.

Pair Corralation between CleanSpark and Greenhill

If you would invest  809.00  in CleanSpark on May 5, 2025 and sell it today you would earn a total of  235.00  from holding CleanSpark or generate 29.05% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

CleanSpark  vs.  Greenhill Co

CleanSpark

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in CleanSpark are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite quite fragile basic indicators, CleanSpark disclosed solid returns over the last few months and may actually be approaching a breakup point.

Greenhill

Risk-Adjusted Performance

Very Weak

Over the last 90 days Greenhill Co has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent technical indicators, Greenhill is not utilizing all of its potentials. The latest stock price mess, may contribute to short-term losses for the institutional investors.

Pair Trading with CleanSpark and Greenhill

The main advantage of trading using opposite CleanSpark and Greenhill positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CleanSpark position performs unexpectedly, Greenhill can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Greenhill will offset losses from the drop in Greenhill's long position.

The idea behind CleanSpark and Greenhill Co pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

Check out your portfolio center.

Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.