BAK vs FOXX: Correlation
Braskem SA ADR (BAK) and Foxx Development Holdings Inc. (FOXX) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAK and FOXX?
On 3 years of weekly data the BAK/FOXX correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.20 over 3. The 5-year figure is -0.18, and annualized covariance runs at -1409.6 %².
FOXX is close to the least connected end of BAK's tracked universe, ranking #9 of 11. Neither side won the trailing year by much: -52.9% against -54.3%. One caveat on sizing: FOXX is 1.7 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 FOXX: side by side
| BAK (Braskem SA ADR) | FOXX (Foxx Development Holdings Inc.) | |
|---|---|---|
| 1-year return | -52.9% | -54.3% |
| 5-year return | -91.9% | n/a |
| Volatility (ann.) | 63.5% | 108.9% |
| Beta vs S&P 500 | 0.83 | -0.69 |
| Max drawdown (3Y) | -86.4% | -87.3% |
| 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 | FOXX |
|---|---|---|
| 2022 | -54.7% | – |
| 2023 | -4.1% | +8.2% |
| 2024 | -56.2% | -48.4% |
| 2025 | -23.6% | -18.7% |
| 2026 | -44.4% | -40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAK and FOXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between BAK and FOXX?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.22 over the last year and -0.18 over 5 years.
Is FOXX a good diversifier for BAK?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bak-vs-foxx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bak-vs-foxx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAK correlations · FOXX correlations
