ANY vs BTBT: Correlation
Sphere 3D Corp. (ANY) and Bit Digital, Inc. (BTBT) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANY and BTBT?
Across a 3-year window, the weekly returns of ANY and BTBT correlate at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.07 versus 0.43 over 3 years. Stretching to 5 years gives 0.48, with an annualized covariance of 5173.4 %².
Within ANY's tracked universe of 11 assets, BTBT comes in at #4 by 3-year correlation. Over the last 12 months BTBT came out ahead by 14.3 percentage points (-56.3% against -42.0%). Risk is not evenly split, since ANY carries 1.6 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ANY vs BTBT: side by side
| ANY (Sphere 3D Corp.) | BTBT (Bit Digital, Inc.) | |
|---|---|---|
| 1-year return | -56.3% | -42.0% |
| 5-year return | -99.4% | -87.6% |
| Volatility (ann.) | 139.7% | 85.4% |
| Beta vs S&P 500 | 0.88 | 2.24 |
| Max drawdown (3Y) | -97.3% | -78.1% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANY | BTBT |
|---|---|---|
| 2022 | -91.2% | -90.1% |
| 2023 | +71.8% | +605.0% |
| 2024 | -71.6% | -30.7% |
| 2025 | -68.4% | -35.5% |
| 2026 | -14.1% | -15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANY and BTBT good diversifiers for each other?
Reasonably. At 0.43, ANY and BTBT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ANY and BTBT?
The ANY/BTBT correlation stands at 0.43 on a 3-year window (1 year: 0.07, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is BTBT a good diversifier for ANY?
Reasonably. At 0.43, ANY and BTBT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/any-vs-btbt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/any-vs-btbt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ANY correlations · BTBT correlations
