BCDA vs KRT: Correlation
BioCardia, Inc. (BCDA) and Karat Packaging Inc. (KRT) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCDA and KRT?
On 3 years of weekly data the BCDA/KRT correlation comes out at 0.40, moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.40). The 5-year figure is 0.28, and annualized covariance runs at 1635.9 %².
Within BCDA's tracked universe of 13 assets, KRT comes in at #5 by 3-year correlation. The last year tells two different stories: KRT led by 149.6 percentage points, -39.7% for BCDA against +109.9% for KRT. One caveat on sizing: BCDA is 2.5 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.
BCDA vs KRT: side by side
| BCDA (BioCardia, Inc.) | KRT (Karat Packaging Inc.) | |
|---|---|---|
| 1-year return | -39.7% | +109.9% |
| 5-year return | -97.4% | +172.9% |
| Volatility (ann.) | 102.2% | 40.5% |
| Beta vs S&P 500 | 1.62 | 1.09 |
| Max drawdown (3Y) | -95.2% | -34.0% |
| Market cap | – | $1.0B |
| P/E (trailing) | – | 19.7 |
| Dividend yield | 0.00% | 3.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCDA | KRT |
|---|---|---|
| 2022 | +7.7% | -27.1% |
| 2023 | -68.4% | +82.2% |
| 2024 | -78.0% | +28.8% |
| 2025 | -42.7% | -20.1% |
| 2026 | -6.4% | +130.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCDA and KRT good diversifiers for each other?
Reasonably. At 0.40, BCDA and KRT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BCDA and KRT?
As of 2026-08-27, the correlation of weekly returns between BCDA and KRT is 0.40 over 3 years, 0.30 over 1 year and 0.28 over 5 years.
Is KRT a good diversifier for BCDA?
Reasonably. At 0.40, BCDA and KRT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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/bcda-vs-krt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcda-vs-krt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BCDA correlations · KRT correlations
