ADV vs BBOT: Correlation
Measured on weekly returns over the past three years, Advantage Solutions Inc. (ADV) and BridgeBio Oncology Therapeutics, Inc. (BBOT) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADV and BBOT?
Over the past 3 years, ADV and BBOT moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -606.8 %².
BBOT is close to the least connected end of ADV's tracked universe, ranking #9 of 11. The last year tells two different stories: BBOT led by 26.0 percentage points, -27.3% for ADV against -1.3% for BBOT. Note the risk asymmetry: ADV runs 2.4 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.
ADV vs BBOT: side by side
| ADV (Advantage Solutions Inc.) | BBOT (BridgeBio Oncology Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -27.3% | -1.3% |
| 5-year return | -84.9% | n/a |
| Volatility (ann.) | 82.5% | 34.5% |
| Beta vs S&P 500 | 1.06 | 0.30 |
| Max drawdown (3Y) | -89.3% | -48.1% |
| Market cap | $0.4B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADV | BBOT |
|---|---|---|
| 2022 | -74.1% | – |
| 2023 | +74.0% | – |
| 2024 | -19.3% | – |
| 2025 | -69.9% | +19.2% |
| 2026 | +52.0% | -26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADV and BBOT good diversifiers for each other?
Yes. With a correlation of -0.21, ADV and BBOT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ADV and BBOT?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.28 over the last year and n/a over 5 years.
Is BBOT a good diversifier for ADV?
Yes. With a correlation of -0.21, ADV and BBOT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adv-vs-bbot.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adv-vs-bbot/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ADV correlations · BBOT correlations
