BBWI vs BH: Correlation
How closely do Bath & Body Works, Inc. (BBWI) and Biglari Holdings Inc. (BH) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBWI and BH?
Over the past 3 years, BBWI and BH moved with a correlation of 0.45, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.45 over 3 years. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 1028.5 %².
Among the 14 assets we track against BBWI, BH ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BH outperformed by 57.9 percentage points (-38.3% for BBWI against +19.6% for BH).
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.
BBWI vs BH: side by side
| BBWI (Bath & Body Works, Inc.) | BH (Biglari Holdings Inc.) | |
|---|---|---|
| 1-year return | -38.3% | +19.6% |
| 5-year return | -69.3% | +115.0% |
| Volatility (ann.) | 50.5% | 45.1% |
| Beta vs S&P 500 | 1.37 | 0.45 |
| Max drawdown (3Y) | -70.0% | -48.0% |
| Market cap | $3.8B | $1.2B |
| P/E (trailing) | 5.0 | – |
| Dividend yield | 2.12% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBWI | BH |
|---|---|---|
| 2022 | -38.4% | -2.6% |
| 2023 | +4.7% | +18.8% |
| 2024 | -8.3% | +54.2% |
| 2025 | -46.5% | +30.7% |
| 2026 | -4.3% | +14.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBWI and BH good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BBWI and BH?
The BBWI/BH correlation stands at 0.45 on a 3-year window (1 year: 0.58, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is BH a good diversifier for BBWI?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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/bbwi-vs-bh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bbwi-vs-bh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BBWI correlations · BH correlations
