CYPH vs SGRY: Correlation
Measured on weekly returns over the past three years, Cypherpunk Technologies Inc. (CYPH) and Surgery Partners, Inc. (SGRY) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CYPH and SGRY?
Over the past 3 years, CYPH and SGRY moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.59 versus -0.30 over 3 years. Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -4946.9 %².
Out of 10 assets tracked against CYPH, SGRY lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with CYPH ahead by 588.5 points (+549.5% versus -39.0%). Note the risk asymmetry: CYPH runs 6.2 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.
CYPH vs SGRY: side by side
| CYPH (Cypherpunk Technologies Inc.) | SGRY (Surgery Partners, Inc.) | |
|---|---|---|
| 1-year return | +549.5% | -39.0% |
| 5-year return | -89.0% | -71.6% |
| Volatility (ann.) | 319.9% | 51.2% |
| Beta vs S&P 500 | 1.42 | 1.30 |
| Max drawdown (3Y) | -94.9% | -69.3% |
| Market cap | $0.2B | $1.8B |
| P/E (trailing) | 3.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CYPH | SGRY |
|---|---|---|
| 2022 | -86.1% | -47.8% |
| 2023 | -7.9% | +14.8% |
| 2024 | -30.6% | -33.8% |
| 2025 | -59.7% | -27.0% |
| 2026 | +62.9% | -9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CYPH and SGRY good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CYPH and SGRY?
As of 2026-08-27, the correlation of weekly returns between CYPH and SGRY is -0.30 over 3 years, -0.59 over 1 year and -0.19 over 5 years.
Is SGRY a good diversifier for CYPH?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 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/cyph-vs-sgry.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cyph-vs-sgry/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CYPH correlations · SGRY correlations
