BCAB vs DNLI: Correlation
BioAtla, Inc. (BCAB) and Denali Therapeutics Inc. (DNLI) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCAB and DNLI?
Across a 3-year window, the weekly returns of BCAB and DNLI correlate at 0.50, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.50 over 3 years. Stretching to 5 years gives 0.46, with an annualized covariance of 3625.7 %².
Few assets follow BCAB as closely as DNLI, which ranks #2 of 11 tracked partners. The last year tells two different stories: DNLI led by 144.1 percentage points, -86.0% for BCAB against +58.1% for DNLI. One caveat on sizing: BCAB 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.
BCAB vs DNLI: side by side
| BCAB (BioAtla, Inc.) | DNLI (Denali Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -86.0% | +58.1% |
| 5-year return | -99.8% | -53.4% |
| Volatility (ann.) | 119.3% | 60.6% |
| Beta vs S&P 500 | 2.75 | 2.02 |
| Max drawdown (3Y) | -98.4% | -63.7% |
| Market cap | – | $3.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCAB | DNLI |
|---|---|---|
| 2022 | -58.0% | -37.6% |
| 2023 | -70.2% | -22.8% |
| 2024 | -76.0% | -5.0% |
| 2025 | -3.9% | -19.0% |
| 2026 | -88.9% | +49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCAB and DNLI good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BCAB and DNLI?
As of 2026-08-27, the correlation of weekly returns between BCAB and DNLI is 0.50 over 3 years, 0.31 over 1 year and 0.46 over 5 years.
Is DNLI a good diversifier for BCAB?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 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/bcab-vs-dnli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcab-vs-dnli/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCAB correlations · DNLI correlations
