BAK vs EHGO: Correlation
Measured on weekly returns over the past three years, Braskem SA ADR (BAK) and Eshallgo Inc. - Class A (EHGO) 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 BAK and EHGO?
Over the past 3 years, BAK and EHGO 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 (-0.20) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1745.2 %².
Out of 11 assets tracked against BAK, EHGO lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with BAK ahead by 37.2 points (-52.9% versus -90.1%). One caveat on sizing: EHGO is 2.0 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 EHGO: side by side
| BAK (Braskem SA ADR) | EHGO (Eshallgo Inc. - Class A) | |
|---|---|---|
| 1-year return | -52.9% | -90.1% |
| 5-year return | -91.9% | n/a |
| Volatility (ann.) | 63.5% | 127.9% |
| Beta vs S&P 500 | 0.83 | -1.42 |
| Max drawdown (3Y) | -86.4% | -98.5% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAK | EHGO |
|---|---|---|
| 2022 | -54.7% | – |
| 2023 | -4.1% | – |
| 2024 | -56.2% | – |
| 2025 | -23.6% | -94.4% |
| 2026 | -44.4% | -65.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAK and EHGO good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between BAK and EHGO?
As of 2026-08-27, the correlation of weekly returns between BAK and EHGO is -0.21 over 3 years, -0.20 over 1 year and n/a over 5 years.
Is EHGO a good diversifier for BAK?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/bak-vs-ehgo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bak-vs-ehgo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAK correlations · EHGO correlations
