BAK vs LQDA: Correlation
Measured on weekly returns over the past three years, Braskem SA ADR (BAK) and Liquidia Corporation (LQDA) 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 BAK and LQDA?
Over the past 3 years, BAK and LQDA moved with a correlation of 0.34, which is moderate. The link has tightened recently: the 1-year correlation (0.48) runs above the 3-year figure (0.34). Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 1571.0 %².
By 3-year correlation, LQDA places #4 of the 11 assets tracked against BAK. The last year tells two different stories: LQDA led by 202.7 percentage points, -52.9% for BAK against +149.8% for LQDA.
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 LQDA: side by side
| BAK (Braskem SA ADR) | LQDA (Liquidia Corporation) | |
|---|---|---|
| 1-year return | -52.9% | +149.8% |
| 5-year return | -91.9% | +2500.0% |
| Volatility (ann.) | 63.5% | 72.2% |
| Beta vs S&P 500 | 0.83 | 1.47 |
| Max drawdown (3Y) | -86.4% | -46.8% |
| Market cap | $0.7B | $6.3B |
| P/E (trailing) | – | 51.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAK | LQDA |
|---|---|---|
| 2022 | -54.7% | +30.8% |
| 2023 | -4.1% | +88.9% |
| 2024 | -56.2% | -2.2% |
| 2025 | -23.6% | +193.3% |
| 2026 | -44.4% | +102.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAK and LQDA good diversifiers for each other?
Reasonably. At 0.34, BAK and LQDA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BAK and LQDA?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.48 over the last year and 0.20 over 5 years.
Is LQDA a good diversifier for BAK?
Reasonably. At 0.34, BAK and LQDA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 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-lqda.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bak-vs-lqda/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAK correlations · LQDA correlations
