BCC vs SMID: Correlation
How closely do Boise Cascade, L.L.C. (BCC) and Smith-Midland Corporation (SMID) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCC and SMID?
Over the past 3 years, BCC and SMID moved with a correlation of 0.47, which is moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.47 over 3. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 1021.5 %².
Within BCC's tracked universe of 24 assets, SMID comes in at #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BCC outperformed by 29.8 percentage points (-9.5% for BCC against -39.3% for SMID). One caveat on sizing: SMID is 1.7 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.
BCC vs SMID: side by side
| BCC (Boise Cascade, L.L.C.) | SMID (Smith-Midland Corporation) | |
|---|---|---|
| 1-year return | -9.5% | -39.3% |
| 5-year return | +71.4% | +32.1% |
| Volatility (ann.) | 36.4% | 60.2% |
| Beta vs S&P 500 | 0.99 | 1.58 |
| Max drawdown (3Y) | -56.5% | -50.2% |
| Market cap | $2.7B | $0.1B |
| P/E (trailing) | 27.1 | 17.4 |
| Dividend yield | 1.10% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCC | SMID |
|---|---|---|
| 2022 | +1.5% | -56.4% |
| 2023 | +106.6% | +92.7% |
| 2024 | -4.0% | +12.6% |
| 2025 | -37.5% | -18.3% |
| 2026 | +7.7% | -31.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCC and SMID good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BCC and SMID?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.41 over the last year and 0.33 over 5 years.
Is SMID a good diversifier for BCC?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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/bcc-vs-smid.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcc-vs-smid/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BCC correlations · SMID correlations
