BBAI vs PUBM: Correlation
How closely do BigBear.ai, Inc. (BBAI) and PubMatic, Inc. (PUBM) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBAI and PUBM?
Across a 3-year window, the weekly returns of BBAI and PUBM correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Stretching to 5 years gives 0.24, with an annualized covariance of 3758.5 %².
Within BBAI's tracked universe of 12 assets, PUBM comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PUBM outperformed by 129.5 percentage points (-37.8% for BBAI against +91.7% for PUBM). One caveat on sizing: BBAI 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.
BBAI vs PUBM: side by side
| BBAI (BigBear.ai, Inc.) | PUBM (PubMatic, Inc.) | |
|---|---|---|
| 1-year return | -37.8% | +91.7% |
| 5-year return | -67.6% | -40.5% |
| Volatility (ann.) | 126.2% | 61.6% |
| Beta vs S&P 500 | 3.30 | 1.56 |
| Max drawdown (3Y) | -75.6% | -73.9% |
| Market cap | $1.5B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBAI | PUBM |
|---|---|---|
| 2022 | -88.1% | -62.4% |
| 2023 | +217.5% | +27.3% |
| 2024 | +107.9% | -9.9% |
| 2025 | +21.3% | -39.6% |
| 2026 | -40.9% | +84.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBAI and PUBM good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BBAI and PUBM?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.48 over the last year and 0.24 over 5 years.
Is PUBM a good diversifier for BBAI?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/bbai-vs-pubm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bbai-vs-pubm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBAI correlations · PUBM correlations
