The Boltzmann factor factorizes over bonds. Define the spin-chain transfer matrix by
Here is the Kronecker delta. Summing the product of these matrix elements over all configurations, and closing the final bond by periodic boundary conditions, gives the canonical partition function
Hence, writing for the identity matrix and for the all-ones matrix,
Every element of is a sum of ones, while every diagonal element of is one. Thus
More explicitly, for , . If , then . These complementary eigenspaces have dimensions and . Equivalently, is the orthogonal projector onto the linear span of . The eigenvalues and their eigenvalue multiplicities are therefore
Since the two matrices share these eigenvectors, the exact finite-ring canonical partition function is
Both terms matter in the finite-ring low-temperature limit: discarding the second would lose the correct ground state degeneracy factor and introduce a spurious single-wall contribution.

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