BCDA vs TENX: Correlation
How closely do BioCardia, Inc. (BCDA) and Tenax Therapeutics, Inc. (TENX) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCDA and TENX?
On 3 years of weekly data the BCDA/TENX correlation comes out at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.10 versus 0.44 over 3 years. The 5-year figure is 0.35, and annualized covariance runs at 5775.4 %².
TENX is one of the assets that tracks BCDA most closely: it ranks #2 out of the 13 assets we track against BCDA. The last year tells two different stories: BCDA led by 23.3 percentage points, -39.7% for BCDA against -63.0% for TENX.
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 TENX: side by side
| BCDA (BioCardia, Inc.) | TENX (Tenax Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -39.7% | -63.0% |
| 5-year return | -97.4% | -99.9% |
| Volatility (ann.) | 102.2% | 127.0% |
| Beta vs S&P 500 | 1.62 | 0.95 |
| Max drawdown (3Y) | -95.2% | -97.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCDA | TENX |
|---|---|---|
| 2022 | +7.7% | -89.3% |
| 2023 | -68.4% | -87.6% |
| 2024 | -78.0% | -71.9% |
| 2025 | -42.7% | +96.9% |
| 2026 | -6.4% | -82.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCDA and TENX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BCDA and TENX?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.10 over the last year and 0.35 over 5 years.
Is TENX a good diversifier for BCDA?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bcda-vs-tenx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bcda-vs-tenx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BCDA correlations · TENX correlations
