BAK vs LYB: Correlation
How closely do Braskem SA ADR (BAK) and LyondellBasell (LYB) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAK and LYB?
On 3 years of weekly data the BAK/LYB correlation comes out at 0.37, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.35, and annualized covariance runs at 781.6 %².
LYB is one of the assets that tracks BAK most closely: it ranks #1 out of the 11 assets we track against BAK. Their recent paths diverged sharply: over the last 12 months LYB outperformed by 72.0 percentage points (-52.9% for BAK against +19.1% for LYB). Risk is not evenly split, since BAK carries 1.9 times the volatility of the other side.
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 LYB: side by side
| BAK (Braskem SA ADR) | LYB (LyondellBasell) | |
|---|---|---|
| 1-year return | -52.9% | +19.1% |
| 5-year return | -91.9% | -12.8% |
| Volatility (ann.) | 63.5% | 33.7% |
| Beta vs S&P 500 | 0.83 | 0.42 |
| Max drawdown (3Y) | -86.4% | -55.4% |
| Market cap | $0.7B | $20.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 6.58% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | BAK | LYB |
|---|---|---|
| 2022 | -54.7% | -1.0% |
| 2023 | -4.1% | +20.7% |
| 2024 | -56.2% | -17.4% |
| 2025 | -23.6% | -36.0% |
| 2026 | -44.4% | +50.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAK and LYB good diversifiers for each other?
Reasonably. At 0.37, BAK and LYB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BAK and LYB?
As of 2026-08-27, the correlation of weekly returns between BAK and LYB is 0.37 over 3 years, 0.43 over 1 year and 0.35 over 5 years.
Is LYB a good diversifier for BAK?
Reasonably. At 0.37, BAK and LYB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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
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Related comparisons
Hubs: BAK correlations · LYB correlations
