ANY vs. BTC-USD

Last updated Jun 5, 2026

ANY (Sphere 3D Corp.) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, ANY returned -55.46%/yr vs 59.71%/yr for BTC-USD. At a 0.15 correlation, their price movements are largely independent.

Performance

ANY vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sphere 3D Corp. (ANY) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANY achieves a 45.83% return, which is significantly higher than BTC-USD's -27.60% return. Over the past 10 years, ANY has underperformed BTC-USD with an annualized return of -55.46%, while BTC-USD has yielded a comparatively higher 59.71% annualized return.

ANY

• 1D: -23.19%
• 1M: 189.33%
• YTD: 45.83%
• 6M: -11.46%
• 1Y: -44.99%
• 3Y*: -41.52%
• 5Y*: -47.87%
• 10Y*: -55.46%

BTC-USD

• 1D: -1.08%
• 1M: -21.71%
• YTD: -27.60%
• 6M: -31.22%
• 1Y: -39.53%
• 3Y*: 35.01%
• 5Y*: 12.25%
• 10Y*: 59.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ANY vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANY Sphere 3D Corp.	45.83%	-68.48%	-71.56%	72.15%	-91.17%	118.18%	83.80%	-74.49%	-84.50%	-67.20%
BTC-USD Bitcoin	-27.60%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	94.10%	-73.37%	1,324.24%

Correlation

The correlation between ANY and BTC-USD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Sep 20, 2012	0.15

The correlation between ANY and BTC-USD shifts across timeframes, from 0.15 (all time) to 0.38 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ANY vs. BTC-USD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ANY

ANY Risk / Return Rank: 33
ANY Sharpe Ratio Rank: 29
ANY Sortino Ratio Rank: 42
ANY Omega Ratio Rank: 41
ANY Calmar Ratio Rank: 24
ANY Martin Ratio Rank: 27

BTC-USD

BTC-USD Risk / Return Rank: 30
BTC-USD Sharpe Ratio Rank: 16
BTC-USD Sortino Ratio Rank: 34
BTC-USD Omega Ratio Rank: 32
BTC-USD Calmar Ratio Rank: 48
BTC-USD Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ANY vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sphere 3D Corp. (ANY) and Bitcoin (BTC-USD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ANY	BTC-USD	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	-0.92	+0.64
Sortino ratio: Return per unit of downside risk	0.50	-1.29	+1.79
Omega ratio: Gain probability vs. loss probability	1.06	0.87	+0.19
Calmar ratio: Return relative to maximum drawdown	-0.50	-0.80	+0.29
Martin ratio: Return relative to average drawdown	-0.76	-1.39	+0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ANY vs. BTC-USD - Sharpe Ratio Comparison

The current ANY Sharpe Ratio is -0.29, which is higher than the BTC-USD Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of ANY and BTC-USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ANY	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.29	-0.92	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	0.23	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.38	0.88	-1.26
Sharpe Ratio (All Time) Calculated using the full available price history	-0.38	1.13	-1.51

Drawdowns

ANY vs. BTC-USD - Drawdown Comparison

The maximum ANY drawdown since its inception was -100.00%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for ANY and BTC-USD.

Drawdown Indicators

	ANY	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-85.30%	-14.70%
Max Drawdown (1Y) Largest decline over 1 year	-89.62%	-49.65%	-39.97%
Max Drawdown (3Y) Largest decline over 3 years	-97.28%	-49.65%	-47.63%
Max Drawdown (5Y) Largest decline over 5 years	-99.83%	-76.67%	-23.16%
Max Drawdown (10Y) Largest decline over 10 years	-99.99%	-83.80%	-16.19%
Current Drawdown Current decline from peak	-100.00%	-49.21%	-50.79%
Average Drawdown Average peak-to-trough decline	-73.42%	-42.28%	-31.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.11%	33.87%	+25.24%

Volatility

ANY vs. BTC-USD - Volatility Comparison

Sphere 3D Corp. (ANY) has a higher volatility of 98.22% compared to Bitcoin (BTC-USD) at 10.14%. This indicates that ANY's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANY	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	98.22%	10.14%	+88.08%
Volatility (6M) Calculated over the trailing 6-month period	115.63%	34.17%	+81.46%
Volatility (1Y) Calculated over the trailing 1-year period	157.48%	35.51%	+121.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	135.06%	44.98%	+90.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.01%	56.69%	+89.32%

Frequently Asked Questions

Can I hold both ANY and BTC-USD in my portfolio?

ANY and BTC-USD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANY or BTC-USD?

ANY has higher volatility (98.22%) compared to BTC-USD (10.14%). In terms of maximum drawdown, ANY dropped -100.00% vs BTC-USD's -85.30%.

Which has better risk-adjusted returns?

ANY currently has the higher Sharpe Ratio (-0.29 vs -0.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.