BAK vs CME: Correlation
How closely do Braskem SA ADR (BAK) and CME Group (CME) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAK and CME?
Across a 3-year window, the weekly returns of BAK and CME correlate at 0.30, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Stretching to 5 years gives 0.20, with an annualized covariance of 378.2 %².
By 3-year correlation, CME places #6 of the 11 assets tracked against BAK. Their recent paths diverged sharply: over the last 12 months CME outperformed by 61.0 percentage points (-52.9% for BAK against +8.1% for CME). One caveat on sizing: BAK is 3.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BAK vs CME: side by side
| BAK (Braskem SA ADR) | CME (CME Group) | |
|---|---|---|
| 1-year return | -52.9% | +8.1% |
| 5-year return | -91.9% | +73.9% |
| Volatility (ann.) | 63.5% | 20.0% |
| Beta vs S&P 500 | 0.83 | 0.12 |
| Max drawdown (3Y) | -86.4% | -31.1% |
| Market cap | $0.7B | $101.0B |
| P/E (trailing) | – | 23.8 |
| Dividend yield | 0.00% | 1.82% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | BAK | CME |
|---|---|---|
| 2022 | -54.7% | -22.9% |
| 2023 | -4.1% | +31.3% |
| 2024 | -56.2% | +15.4% |
| 2025 | -23.6% | +19.8% |
| 2026 | -44.4% | +5.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAK and CME good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BAK and CME?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.39 over the last year and 0.20 over 5 years.
Is CME a good diversifier for BAK?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 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/bak-vs-cme.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bak-vs-cme/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BAK correlations · CME correlations
