CAG vs EBON: Correlation
ConAgra Brands, Inc. (CAG) and Ebang International Holdings Inc. - Class A (EBON) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAG and EBON?
On 3 years of weekly data the CAG/EBON correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.22). The 5-year figure is -0.12, and annualized covariance runs at -461.1 %².
By 3-year correlation, EBON places #27 of the 34 assets tracked against CAG. Their recent paths diverged sharply: over the last 12 months CAG outperformed by 33.7 percentage points (-9.8% for CAG against -43.5% for EBON). Note the risk asymmetry: EBON runs 3.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CAG vs EBON: side by side
| CAG (ConAgra Brands, Inc.) | EBON (Ebang International Holdings Inc. - Class A) | |
|---|---|---|
| 1-year return | -9.8% | -43.5% |
| 5-year return | -36.6% | -97.1% |
| Volatility (ann.) | 24.2% | 87.4% |
| Beta vs S&P 500 | -0.05 | 1.50 |
| Max drawdown (3Y) | -56.7% | -90.4% |
| Market cap | $7.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 8.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAG | EBON |
|---|---|---|
| 2022 | +17.5% | -90.6% |
| 2023 | -22.8% | +425.8% |
| 2024 | +1.5% | -62.6% |
| 2025 | -33.3% | -46.5% |
| 2026 | -2.1% | -27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAG and EBON good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CAG and EBON?
The CAG/EBON correlation stands at -0.22 on a 3-year window (1 year: -0.33, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is EBON a good diversifier for CAG?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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/cag-vs-ebon.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cag-vs-ebon/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAG correlations · EBON correlations
