Sphere 3D Correlations

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USD 0.45 0 0.67%

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

Average diversification

The correlation between Sphere 3D Corp and DJI is 0.19 (i.e., Average 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.

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

0.61	WKEY	Wisekey International	Pair Corr
0.81	FUFU	BitFuFu Class A	Pair Corr
0.69	XTIA	XTI Aerospace,	Pair Corr
0.79	GBTG	Global Business Travel	Pair Corr
0.95	GRYP	Gryphon Digital Mining Earnings Call This Week	Pair Corr
0.93	MARA	Marathon Digital Holdings	Pair Corr
0.68	MKDW	MKDWELL Tech Ordinary	Pair Corr
0.84	RIOT	Riot Blockchain Aggressive Push	Pair Corr
0.96	SLNH	Soluna Holdings	Pair Corr
0.94	BTBT	Bit Digital Aggressive Push	Pair Corr
0.86	CLSK	CleanSpark	Pair Corr
0.62	S	SentinelOne	Pair Corr
0.94	DIOD	Diodes Incorporated	Pair Corr
0.89	AI	C3 Ai Inc	Pair Corr
0.76	BL	Blackline	Pair Corr
0.61	DM	Desktop Metal Tech Boost	Pair Corr
0.62	FN	Fabrinet	Pair Corr
0.79	KE	Kimball Electronics	Pair Corr
0.92	KN	Knowles Cor	Pair Corr

Moving against Sphere Stock

0.57	VCSA	Vacasa Inc	Pair Corr
0.7	JG	Aurora Mobile	Pair Corr
0.69	FI	Fiserv,	Pair Corr
0.65	BB	BlackBerry	Pair Corr
0.34	DQ	Daqo New Energy	Pair Corr
0.33	ML	MoneyLion	Pair Corr
0.56	DOMO	Domo Inc	Pair Corr
0.4	MQ	Marqeta Tech Boost	Pair Corr

Related Correlations Analysis

	PALT	SOPA	MRIN	EZFL	IDAI	NOGN	IFBD	VS	MTC
PALT		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	PALT
SOPA	0.0		0.09	0.45	-0.32	0.0	-0.27	-0.16	0.07	SOPA
MRIN	0.0	0.09		-0.4	0.51	0.0	0.79	0.12	0.81	MRIN
EZFL	0.0	0.45	-0.4		-0.72	0.0	-0.67	-0.06	-0.39	EZFL
IDAI	0.0	-0.32	0.51	-0.72		0.0	0.79	0.12	0.55	IDAI
NOGN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NOGN
IFBD	0.0	-0.27	0.79	-0.67	0.79	0.0		0.08	0.75	IFBD
VS	0.0	-0.16	0.12	-0.06	0.12	0.0	0.08		-0.02	VS
MTC	0.0	0.07	0.81	-0.39	0.55	0.0	0.75	-0.02		MTC
	PALT	SOPA	MRIN	EZFL	IDAI	NOGN	IFBD	VS	MTC

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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

MTC	+ 0.81	MRIN
IFBD	+ 0.79	MRIN
IFBD	+ 0.79	IDAI
MTC	+ 0.75	IFBD
MTC	+ 0.55	IDAI
IDAI	+ 0.51	MRIN

High negative correlations

IDAI	- 0.72	EZFL
IFBD	- 0.67	EZFL
EZFL	- 0.4	MRIN
MTC	- 0.39	EZFL
IDAI	- 0.32	SOPA
IFBD	- 0.27	SOPA

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
PALT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SOPA	10.85	2.04	0.20	1.01	8.86	(18.12)	44.94	(18.51)	148.91
MRIN	2.29	(0.46)	0.00	(0.39)	0.00	0.00	5.07	(5.77)	20.93
EZFL	6.15	0.32	0.08	(0.25)	6.74	(6.80)	15.07	(11.14)	42.38
IDAI	7.59	(0.94)	0.00	0.60	0.00	0.00	20.11	(16.59)	95.40
NOGN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IFBD	3.92	(0.43)	0.00	(0.94)	0.00	0.00	7.14	(7.93)	32.77
VS	4.51	0.38	0.08	0.39	4.90	(5.46)	9.57	(7.65)	59.08
MTC	5.05	(1.02)	0.00	(6.54)	0.00	0.00	8.97	(11.05)	30.19

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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