ATGL vs BCDA: Correlation
Alpha Technology Group Limited - Class A (ATGL) and BioCardia, Inc. (BCDA) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATGL and BCDA?
On 3 years of weekly data the ATGL/BCDA correlation comes out at 0.41, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.41). The 5-year figure is n/a, and annualized covariance runs at 10564.6 %².
In ATGL's tracked universe of 11 assets, BCDA sits right near the top at #3. Correlation aside, the last 12 months split them widely, with BCDA ahead by 36.3 points (-76.0% versus -39.7%). Note the risk asymmetry: ATGL runs 2.5 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.
ATGL vs BCDA: side by side
| ATGL (Alpha Technology Group Limited - Class A) | BCDA (BioCardia, Inc.) | |
|---|---|---|
| 1-year return | -76.0% | -39.7% |
| 5-year return | n/a | -97.4% |
| Volatility (ann.) | 253.1% | 102.2% |
| Beta vs S&P 500 | 0.71 | 1.62 |
| Max drawdown (3Y) | -95.9% | -95.2% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATGL | BCDA |
|---|---|---|
| 2022 | – | +7.7% |
| 2023 | – | -68.4% |
| 2024 | +11.3% | -78.0% |
| 2025 | +48.0% | -42.7% |
| 2026 | -65.5% | -6.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATGL and BCDA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ATGL and BCDA?
As of 2026-08-27, the correlation of weekly returns between ATGL and BCDA is 0.41 over 3 years, 0.26 over 1 year and n/a over 5 years.
Is BCDA a good diversifier for ATGL?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atgl-vs-bcda.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atgl-vs-bcda/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATGL correlations · BCDA correlations
