BAFN vs RACE: Correlation
Measured on weekly returns over the past three years, BayFirst Financial Corp. (BAFN) and Ferrari N.V. (RACE) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAFN and RACE?
Over the past 3 years, BAFN and RACE moved with a correlation of 0.34, which is moderate. The link has tightened recently: the 1-year correlation (0.46) runs above the 3-year figure (0.34). Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 539.8 %².
Within BAFN's tracked universe of 10 assets, RACE comes in at #4 by 3-year correlation. The last year tells two different stories: RACE led by 17.3 percentage points, -28.1% for BAFN against -10.8% for RACE.
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.
BAFN vs RACE: side by side
| BAFN (BayFirst Financial Corp.) | RACE (Ferrari N.V.) | |
|---|---|---|
| 1-year return | -28.1% | -10.8% |
| 5-year return | -70.9% | +98.0% |
| Volatility (ann.) | 47.9% | 32.9% |
| Beta vs S&P 500 | 0.67 | 0.99 |
| Max drawdown (3Y) | -76.5% | -39.2% |
| Market cap | $0.2B | $72.8B |
| P/E (trailing) | – | 38.2 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAFN | RACE |
|---|---|---|
| 2022 | -25.3% | -16.7% |
| 2023 | -20.2% | +59.1% |
| 2024 | +4.6% | +26.3% |
| 2025 | -40.4% | -12.3% |
| 2026 | -14.2% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAFN and RACE good diversifiers for each other?
Reasonably. At 0.34, BAFN and RACE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BAFN and RACE?
As of 2026-08-27, the correlation of weekly returns between BAFN and RACE is 0.34 over 3 years, 0.46 over 1 year and 0.30 over 5 years.
Is RACE a good diversifier for BAFN?
Reasonably. At 0.34, BAFN and RACE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
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Related comparisons
Hubs: BAFN correlations · RACE correlations
