BCDA vs RENX: Correlation
BioCardia, Inc. (BCDA) and RenX Enterprises Corp. (RENX) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCDA and RENX?
Over the past 3 years, BCDA and RENX moved with a correlation of 0.47, which is moderate. The past 12 months show a weaker link (0.09) than the 3-year average (0.47). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 15244.0 %².
In BCDA's tracked universe of 13 assets, RENX sits right near the top at #1. The last year tells two different stories: BCDA led by 51.3 percentage points, -39.7% for BCDA against -91.0% for RENX. Risk is not evenly split, since RENX carries 3.2 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 RENX: side by side
| BCDA (BioCardia, Inc.) | RENX (RenX Enterprises Corp.) | |
|---|---|---|
| 1-year return | -39.7% | -91.0% |
| 5-year return | -97.4% | n/a |
| Volatility (ann.) | 102.2% | 322.0% |
| Beta vs S&P 500 | 1.62 | 1.58 |
| Max drawdown (3Y) | -95.2% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCDA | RENX |
|---|---|---|
| 2022 | +7.7% | – |
| 2023 | -68.4% | – |
| 2024 | -78.0% | -90.5% |
| 2025 | -42.7% | -92.5% |
| 2026 | -6.4% | -46.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCDA and RENX 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 BCDA and RENX?
As of 2026-08-27, the correlation of weekly returns between BCDA and RENX is 0.47 over 3 years, 0.09 over 1 year and n/a over 5 years.
Is RENX a good diversifier for BCDA?
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/bcda-vs-renx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bcda-vs-renx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BCDA correlations · RENX correlations
