BCDA vs HSDT: Correlation
BioCardia, Inc. (BCDA) and Solana Company (HSDT) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCDA and HSDT?
Over the past 3 years, BCDA and HSDT moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.59 versus -0.27 over 3 years. Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -4821.4 %².
HSDT is close to the least connected end of BCDA's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months BCDA outperformed by 21.0 percentage points (-39.7% for BCDA against -60.7% for HSDT). Risk is not evenly split, since HSDT carries 1.7 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.
BCDA vs HSDT: side by side
| BCDA (BioCardia, Inc.) | HSDT (Solana Company) | |
|---|---|---|
| 1-year return | -39.7% | -60.7% |
| 5-year return | -97.4% | -100.0% |
| Volatility (ann.) | 102.2% | 177.7% |
| Beta vs S&P 500 | 1.62 | 0.34 |
| Max drawdown (3Y) | -95.2% | -100.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCDA | HSDT |
|---|---|---|
| 2022 | +7.7% | -94.1% |
| 2023 | -68.4% | -47.6% |
| 2024 | -78.0% | -91.7% |
| 2025 | -42.7% | -99.4% |
| 2026 | -6.4% | -15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCDA and HSDT good diversifiers for each other?
Yes. With a correlation of -0.27, BCDA and HSDT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BCDA and HSDT?
As of 2026-08-27, the correlation of weekly returns between BCDA and HSDT is -0.27 over 3 years, -0.59 over 1 year and -0.17 over 5 years.
Is HSDT a good diversifier for BCDA?
Yes. With a correlation of -0.27, BCDA and HSDT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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/bcda-vs-hsdt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcda-vs-hsdt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BCDA correlations · HSDT correlations
