EGAN vs HIVE: Correlation
How closely do eGain Corporation (EGAN) and HIVE Digital Technologies Ltd (HIVE) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EGAN and HIVE?
On 3 years of weekly data the EGAN/HIVE correlation comes out at 0.44, moderate. The link has tightened recently: the 1-year correlation (0.61) runs above the 3-year figure (0.44). The 5-year figure is 0.36, and annualized covariance runs at 2064.2 %².
HIVE is one of the assets that tracks EGAN most closely: it ranks #1 out of the 10 assets we track against EGAN. Over the last 12 months EGAN came out ahead by 14.6 percentage points (+18.7% against +4.1%). Note the risk asymmetry: HIVE runs 1.9 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.
EGAN vs HIVE: side by side
| EGAN (eGain Corporation) | HIVE (HIVE Digital Technologies Ltd) | |
|---|---|---|
| 1-year return | +18.7% | +4.1% |
| 5-year return | -36.1% | -80.7% |
| Volatility (ann.) | 49.6% | 94.1% |
| Beta vs S&P 500 | 0.86 | 2.26 |
| Max drawdown (3Y) | -60.5% | -77.1% |
| Market cap | $0.2B | $0.8B |
| P/E (trailing) | 5.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EGAN | HIVE |
|---|---|---|
| 2022 | -9.5% | -89.1% |
| 2023 | -7.8% | +214.6% |
| 2024 | -25.2% | -37.1% |
| 2025 | +65.2% | -9.5% |
| 2026 | -27.3% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGAN and HIVE good diversifiers for each other?
Reasonably. At 0.44, EGAN and HIVE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EGAN and HIVE?
The EGAN/HIVE correlation stands at 0.44 on a 3-year window (1 year: 0.61, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is HIVE a good diversifier for EGAN?
Reasonably. At 0.44, EGAN and HIVE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/egan-vs-hive.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/egan-vs-hive/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EGAN correlations · HIVE correlations
