ANY vs CBOE: Correlation
Sphere 3D Corp. (ANY) and Cboe Global Markets (CBOE) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANY and CBOE?
Over the past 3 years, ANY and CBOE moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.30 versus -0.19 over 3 years. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -679.5 %².
CBOE is close to the least connected end of ANY's tracked universe, ranking #9 of 11. The last year tells two different stories: CBOE led by 88.8 percentage points, -56.3% for ANY against +32.5% for CBOE. Risk is not evenly split, since ANY carries 5.4 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 CBOE: side by side
| ANY (Sphere 3D Corp.) | CBOE (Cboe Global Markets) | |
|---|---|---|
| 1-year return | -56.3% | +32.5% |
| 5-year return | -99.4% | +168.0% |
| Volatility (ann.) | 139.7% | 26.1% |
| Beta vs S&P 500 | 0.88 | 0.09 |
| Max drawdown (3Y) | -97.3% | -36.7% |
| Market cap | – | $32.8B |
| P/E (trailing) | – | 24.5 |
| Dividend yield | 0.00% | 0.92% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ANY | CBOE |
|---|---|---|
| 2022 | -91.2% | -2.2% |
| 2023 | +71.8% | +44.4% |
| 2024 | -71.6% | +10.7% |
| 2025 | -68.4% | +29.2% |
| 2026 | -14.1% | +25.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANY and CBOE good diversifiers for each other?
Yes. With a correlation of -0.19, ANY and CBOE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ANY and CBOE?
The ANY/CBOE correlation stands at -0.19 on a 3-year window (1 year: -0.30, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is CBOE a good diversifier for ANY?
Yes. With a correlation of -0.19, ANY and CBOE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/any-vs-cboe.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/any-vs-cboe/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ANY correlations · CBOE correlations
