ANY vs HIVE: Correlation
How closely do Sphere 3D Corp. (ANY) and HIVE Digital Technologies Ltd (HIVE) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANY and HIVE?
On 3 years of weekly data the ANY/HIVE correlation comes out at 0.42, moderate. The link has loosened recently: the 1-year correlation (0.09) runs below the 3-year figure (0.42). The 5-year figure is 0.49, and annualized covariance runs at 5524.6 %².
Within ANY's tracked universe of 11 assets, HIVE comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HIVE ahead by 60.4 points (-56.3% versus +4.1%).
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 HIVE: side by side
| ANY (Sphere 3D Corp.) | HIVE (HIVE Digital Technologies Ltd) | |
|---|---|---|
| 1-year return | -56.3% | +4.1% |
| 5-year return | -99.4% | -80.7% |
| Volatility (ann.) | 139.7% | 94.1% |
| Beta vs S&P 500 | 0.88 | 2.26 |
| Max drawdown (3Y) | -97.3% | -77.1% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANY | HIVE |
|---|---|---|
| 2022 | -91.2% | -89.1% |
| 2023 | +71.8% | +214.6% |
| 2024 | -71.6% | -37.1% |
| 2025 | -68.4% | -9.5% |
| 2026 | -14.1% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANY and HIVE good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ANY and HIVE?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.09 over the last year and 0.49 over 5 years.
Is HIVE a good diversifier for ANY?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/any-vs-hive.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/any-vs-hive/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ANY correlations · HIVE correlations
