ANY vs NIM: Correlation
Measured on weekly returns over the past three years, Sphere 3D Corp. (ANY) and Nuveen Select Maturities Municipal Fund (NIM) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANY and NIM?
On 3 years of weekly data the ANY/NIM correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.19 over 3 years. The 5-year figure is -0.04, and annualized covariance runs at -222.2 %².
NIM is close to the least connected end of ANY's tracked universe, ranking #10 of 11. The last year tells two different stories: NIM led by 61.8 percentage points, -56.3% for ANY against +5.5% for NIM. Risk is not evenly split, since ANY carries 16.6 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 NIM: side by side
| ANY (Sphere 3D Corp.) | NIM (Nuveen Select Maturities Municipal Fund) | |
|---|---|---|
| 1-year return | -56.3% | +5.5% |
| 5-year return | -99.4% | +1.3% |
| Volatility (ann.) | 139.7% | 8.4% |
| Beta vs S&P 500 | 0.88 | 0.16 |
| Max drawdown (3Y) | -97.3% | -6.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 24.4 |
| Dividend yield | 0.00% | 3.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANY | NIM |
|---|---|---|
| 2022 | -91.2% | -12.9% |
| 2023 | +71.8% | +0.8% |
| 2024 | -71.6% | +2.8% |
| 2025 | -68.4% | +10.9% |
| 2026 | -14.1% | +2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANY and NIM good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between ANY and NIM?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.37 over the last year and -0.04 over 5 years.
Is NIM a good diversifier for ANY?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
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-nim.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/any-vs-nim/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ANY correlations · NIM correlations
