There are a few excellent day excursions from Caraz [1]. Just north of town, a road leads 32 kilometers up past towering granite walls to the spectacular Laguna Parón, the largest lake in the Cordillera Blanca [2]. A dozen snow pyramids hem the lake in on all sides, including the perfect towers of Artesonraju (6,025 meters), Pirámide Garcilaso (5,885 meters), and Chacraraju (6,185 meters). This is a good spot for camping.
Just a few kilometers north of Caraz is Tumshukaiko, a huge archaeological site that looks like a fort and may have been built by the Chavín culture. To walk here from Caraz’s main square, follow San Martín uphill, take a left on 28 de Julio, and continue to the bridge over the Río Llullan. The ruins are another 300 meters from here and before the road for Laguna Parón.
A rough dirt road heads west over the Cordillera Negra [3] toward a gigantic stand of Puya raimondii plants at Abra Huinchus (4,300 meters). This road leads to the coast and, in the dry season, makes for a spectacular and fast mountain bike descent.
Links:
[1] http://www.moon.com/destinations/peru/huaraz-and-the-cordillera-blanca/callejon-de-huaylas/caraz
[2] http://www.moon.com/destinations/peru/huaraz-and-the-cordillera-blanca/trekking-the-andes/cordillera-blanca
[3] http://www.moon.com/destinations/peru/huaraz-and-the-cordillera-blanca/trekking-the-andes/cordillera-negra