BBOT vs NI: Correlation
Measured on weekly returns over the past three years, BridgeBio Oncology Therapeutics, Inc. (BBOT) and NiSource (NI) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBOT and NI?
On 3 years of weekly data the BBOT/NI correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -119.0 %².
Within BBOT's tracked universe of 27 assets, NI comes in at #12 by 3-year correlation. Their 12-month results are close: -1.3% for BBOT against -0.9% for NI. One caveat on sizing: BBOT is 1.9 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.
BBOT vs NI: side by side
| BBOT (BridgeBio Oncology Therapeutics, Inc.) | NI (NiSource) | |
|---|---|---|
| 1-year return | -1.3% | -0.9% |
| 5-year return | n/a | +94.6% |
| Volatility (ann.) | 34.5% | 17.8% |
| Beta vs S&P 500 | 0.30 | 0.26 |
| Max drawdown (3Y) | -48.1% | -16.7% |
| Market cap | $0.7B | $19.6B |
| P/E (trailing) | – | 21.9 |
| Dividend yield | 0.00% | 1.41% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | BBOT | NI |
|---|---|---|
| 2022 | – | +2.7% |
| 2023 | – | +0.5% |
| 2024 | – | +43.5% |
| 2025 | +19.2% | +16.8% |
| 2026 | -26.7% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBOT and NI good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BBOT and NI?
As of 2026-08-27, the correlation of weekly returns between BBOT and NI is -0.20 over 3 years, -0.26 over 1 year and n/a over 5 years.
Is NI a good diversifier for BBOT?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/bbot-vs-ni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbot-vs-ni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BBOT correlations · NI correlations
