EBON vs MARA: Correlation
How closely do Ebang International Holdings Inc. - Class A (EBON) and MARA Holdings, Inc. (MARA) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBON and MARA?
On 3 years of weekly data the EBON/MARA correlation comes out at 0.50, moderate. The link has loosened recently: the 1-year correlation (0.39) runs below the 3-year figure (0.50). The 5-year figure is 0.59, and annualized covariance runs at 3696.7 %².
Among the 14 assets we track against EBON, MARA ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MARA ahead by 18.4 points (-43.5% versus -25.1%).
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.
EBON vs MARA: side by side
| EBON (Ebang International Holdings Inc. - Class A) | MARA (MARA Holdings, Inc.) | |
|---|---|---|
| 1-year return | -43.5% | -25.1% |
| 5-year return | -97.1% | -70.7% |
| Volatility (ann.) | 87.4% | 83.9% |
| Beta vs S&P 500 | 1.50 | 2.07 |
| Max drawdown (3Y) | -90.4% | -78.3% |
| Market cap | – | $4.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EBON | MARA |
|---|---|---|
| 2022 | -90.6% | -89.6% |
| 2023 | +425.8% | +586.8% |
| 2024 | -62.6% | -28.6% |
| 2025 | -46.5% | -46.5% |
| 2026 | -27.4% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EBON and MARA good diversifiers for each other?
Only partially. A correlation of 0.50 means EBON and MARA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EBON and MARA?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.39 over the last year and 0.59 over 5 years.
Is MARA a good diversifier for EBON?
Only partially. A correlation of 0.50 means EBON and MARA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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
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Related comparisons
Hubs: EBON correlations · MARA correlations
