BAER vs SANA: Correlation
Bridger Aerospace Group Holdings, Inc. (BAER) and Sana Biotechnology, Inc. (SANA) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAER and SANA?
Over the past 3 years, BAER and SANA moved with a correlation of 0.33, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.33 over 3 years. Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 3737.4 %².
Within BAER's tracked universe of 11 assets, SANA comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SANA outperformed by 65.0 percentage points (-43.6% for BAER against +21.4% for SANA).
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.
BAER vs SANA: side by side
| BAER (Bridger Aerospace Group Holdings, Inc.) | SANA (Sana Biotechnology, Inc.) | |
|---|---|---|
| 1-year return | -43.6% | +21.4% |
| 5-year return | -88.1% | -82.9% |
| Volatility (ann.) | 97.4% | 115.0% |
| Beta vs S&P 500 | 1.71 | 1.88 |
| Max drawdown (3Y) | -87.8% | -88.1% |
| Market cap | $0.1B | $1.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAER | SANA |
|---|---|---|
| 2022 | +3.8% | -74.5% |
| 2023 | -31.8% | +3.3% |
| 2024 | -69.2% | -60.0% |
| 2025 | -14.1% | +149.7% |
| 2026 | -37.2% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAER and SANA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BAER and SANA?
The BAER/SANA correlation stands at 0.33 on a 3-year window (1 year: 0.12, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is SANA a good diversifier for BAER?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BAER correlations · SANA correlations
