BBLG vs KSPI: Correlation
Measured on weekly returns over the past three years, Bone Biologics Corp (BBLG) and Joint Stock Company Kaspi.kz - American Depository Shares (KSPI) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBLG and KSPI?
Across a 3-year window, the weekly returns of BBLG and KSPI correlate at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.10 versus -0.33 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -1876.9 %².
Out of 14 assets tracked against BBLG, KSPI lands near the bottom at #14. The last year tells two different stories: KSPI led by 90.0 percentage points, -71.4% for BBLG against +18.6% for KSPI. Risk is not evenly split, since BBLG carries 3.6 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.
BBLG vs KSPI: side by side
| BBLG (Bone Biologics Corp) | KSPI (Joint Stock Company Kaspi.kz - American Depository Shares) | |
|---|---|---|
| 1-year return | -71.4% | +18.6% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 140.7% | 39.5% |
| Beta vs S&P 500 | 0.69 | 1.08 |
| Max drawdown (3Y) | -98.4% | -48.9% |
| Market cap | – | $20.0B |
| P/E (trailing) | – | 9.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBLG | KSPI |
|---|---|---|
| 2022 | -94.0% | – |
| 2023 | -91.0% | – |
| 2024 | -79.2% | – |
| 2025 | -74.3% | -17.5% |
| 2026 | -57.6% | +40.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBLG and KSPI good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BBLG and KSPI?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with 0.10 over the last year and n/a over 5 years.
Is KSPI a good diversifier for BBLG?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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/bblg-vs-kspi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bblg-vs-kspi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BBLG correlations · KSPI correlations
