ANY vs EBON: Correlation
Measured on weekly returns over the past three years, Sphere 3D Corp. (ANY) and Ebang International Holdings Inc. - Class A (EBON) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANY and EBON?
On 3 years of weekly data the ANY/EBON correlation comes out at 0.50, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.50). The 5-year figure is 0.52, and annualized covariance runs at 6128.5 %².
In ANY's tracked universe of 11 assets, EBON sits right near the top at #1. On 12-month performance EBON holds a 12.8-point edge, -56.3% against -43.5%. One caveat on sizing: ANY is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 EBON: side by side
| ANY (Sphere 3D Corp.) | EBON (Ebang International Holdings Inc. - Class A) | |
|---|---|---|
| 1-year return | -56.3% | -43.5% |
| 5-year return | -99.4% | -97.1% |
| Volatility (ann.) | 139.7% | 87.4% |
| Beta vs S&P 500 | 0.88 | 1.50 |
| Max drawdown (3Y) | -97.3% | -90.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANY | EBON |
|---|---|---|
| 2022 | -91.2% | -90.6% |
| 2023 | +71.8% | +425.8% |
| 2024 | -71.6% | -62.6% |
| 2025 | -68.4% | -46.5% |
| 2026 | -14.1% | -27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANY and EBON good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ANY and EBON?
The ANY/EBON correlation stands at 0.50 on a 3-year window (1 year: 0.18, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is EBON a good diversifier for ANY?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
A reading of 0.50 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-ebon.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/any-vs-ebon/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ANY correlations · EBON correlations
