BAK vs IMO: Correlation
Braskem SA ADR (BAK) and Imperial Oil Limited (IMO) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAK and IMO?
On 3 years of weekly data the BAK/IMO correlation comes out at 0.35, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.35 over 3. The 5-year figure is 0.29, and annualized covariance runs at 641.6 %².
IMO is one of the assets that tracks BAK most closely: it ranks #3 out of the 11 assets we track against BAK. The last year tells two different stories: IMO led by 103.3 percentage points, -52.9% for BAK against +50.4% for IMO. One caveat on sizing: BAK is 2.2 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 IMO: side by side
| BAK (Braskem SA ADR) | IMO (Imperial Oil Limited) | |
|---|---|---|
| 1-year return | -52.9% | +50.4% |
| 5-year return | -91.9% | +468.0% |
| Volatility (ann.) | 63.5% | 28.8% |
| Beta vs S&P 500 | 0.83 | 0.24 |
| Max drawdown (3Y) | -86.4% | -22.9% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | 21.2 |
| Dividend yield | 0.00% | 2.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAK | IMO |
|---|---|---|
| 2022 | -54.7% | +38.0% |
| 2023 | -4.1% | +20.6% |
| 2024 | -56.2% | +10.5% |
| 2025 | -23.6% | +43.8% |
| 2026 | -44.4% | +54.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAK and IMO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BAK and IMO?
As of 2026-08-27, the correlation of weekly returns between BAK and IMO is 0.35 over 3 years, 0.36 over 1 year and 0.29 over 5 years.
Is IMO a good diversifier for BAK?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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: BAK correlations · IMO correlations
