Sphere 3D Correlations

ANY Stock

USD 0.64 0.02 3.03%

The correlation of Sphere 3D is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Sphere 3D Correlation With Market

Very good diversification

The correlation between Sphere 3D Corp and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sphere 3D Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Sphere Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Sphere 3D Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Sphere Stock

0.66	MI	NFT Limited	Pair Corr
0.85	WKEY	Wisekey International	Pair Corr
0.77	FRGE	Forge Global Holdings	Pair Corr
0.94	GRYP	Gryphon Digital Mining	Pair Corr
0.85	MARA	Marathon Digital Holdings	Pair Corr
0.73	RIOT	Riot Blockchain	Pair Corr
0.68	GREEL	Greenidge Generation	Pair Corr
0.63	SWVL	Swvl Holdings Corp	Pair Corr
0.68	BTBT	Bit Digital	Pair Corr
0.86	CLSK	CleanSpark	Pair Corr
0.63	CXDO	Crexendo	Pair Corr
0.62	U	Unity Software	Pair Corr
0.61	DIOD	Diodes Incorporated	Pair Corr
0.69	AI	C3 Ai Inc	Pair Corr
0.83	BL	Blackline	Pair Corr
0.78	DT	Dynatrace Holdings LLC	Pair Corr
0.68	FN	Fabrinet	Pair Corr
0.87	KD	Kyndryl Holdings	Pair Corr
0.69	KE	Kimball Electronics	Pair Corr
0.7	KN	Knowles Cor	Pair Corr

Moving against Sphere Stock

0.68	GBTG	Global Business Travel	Pair Corr
0.64	NTRP	NextTrip	Pair Corr
0.63	FUFU	BitFuFu Class A	Pair Corr
0.85	FI	Fiserv,	Pair Corr
0.7	DGNX	Diginex Limited Ordinary	Pair Corr
0.47	DQ	Daqo New Energy	Pair Corr

Related Correlations Analysis

	SOPA	MRIN	IDAI	IFBD	VS	MTC	RTC	BTDR	PAYD	LQWDF
SOPA		0.18	0.69	-0.3	0.26	0.16	-0.5	0.86	-0.21	0.72	SOPA
MRIN	0.18		0.24	0.65	0.08	-0.23	0.13	0.09	0.34	-0.02	MRIN
IDAI	0.69	0.24		-0.15	0.02	0.55	-0.14	0.8	-0.24	0.31	IDAI
IFBD	-0.3	0.65	-0.15		-0.09	-0.33	0.51	-0.41	0.58	-0.46	IFBD
VS	0.26	0.08	0.02	-0.09		-0.16	-0.26	0.1	-0.07	0.47	VS
MTC	0.16	-0.23	0.55	-0.33	-0.16		0.32	0.35	-0.24	-0.24	MTC
RTC	-0.5	0.13	-0.14	0.51	-0.26	0.32		-0.55	0.3	-0.84	RTC
BTDR	0.86	0.09	0.8	-0.41	0.1	0.35	-0.55		-0.4	0.63	BTDR
PAYD	-0.21	0.34	-0.24	0.58	-0.07	-0.24	0.3	-0.4		-0.25	PAYD
LQWDF	0.72	-0.02	0.31	-0.46	0.47	-0.24	-0.84	0.63	-0.25		LQWDF
	SOPA	MRIN	IDAI	IFBD	VS	MTC	RTC	BTDR	PAYD	LQWDF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BTDR	+ 0.86	SOPA
BTDR	+ 0.8	IDAI
LQWDF	+ 0.72	SOPA
IDAI	+ 0.69	SOPA
IFBD	+ 0.65	MRIN
LQWDF	+ 0.63	BTDR

High negative correlations

LQWDF	- 0.84	RTC
BTDR	- 0.55	RTC
RTC	- 0.5	SOPA
LQWDF	- 0.46	IFBD
BTDR	- 0.41	IFBD
PAYD	- 0.4	BTDR

Risk-Adjusted Indicators

There is a big difference between Sphere Stock performing well and Sphere 3D Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Sphere 3D's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SOPA	4.82	0.26	0.05	0.32	4.69	(6.65)	10.43	(7.32)	54.75
MRIN	12.25	2.13	0.18	3.18	10.40	(23.18)	69.39	(19.42)	138.05
IDAI	4.08	0.02	0.00	0.07	4.48	(4.85)	9.24	(7.73)	22.64
IFBD	4.01	(0.57)	0.00	(1.15)	0.00	0.00	7.14	(10.58)	41.07
VS	3.42	0.31	0.08	2.56	3.39	(4.50)	10.31	(6.10)	21.45
MTC	3.76	0.03	0.00	0.07	4.51	(5.03)	12.50	(8.16)	34.77
RTC	17.82	0.67	0.03	0.98	21.53	(23.31)	59.17	(41.74)	139.97
BTDR	5.49	0.44	0.08	0.19	5.71	(5.81)	16.38	(8.51)	34.23
PAYD	0.89	(0.07)	0.00	0.59	0.00	0.00	0.00	(1.34)	21.70
LQWDF	6.25	1.67	0.22	(2.69)	5.70	(8.24)	17.57	(9.68)	44.54

Sphere 3D Corporate Executives

Elected by the shareholders, the Sphere 3D's board of directors comprises two types of representatives: Sphere 3D inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sphere. The board's role is to monitor Sphere 3D's management team and ensure that shareholders' interests are well served. Sphere 3D's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Sphere 3D's outside directors are responsible for providing unbiased perspectives on the board's policies.

Kurt Kalbfleisch

CFO and Sr. VP

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