BDMD vs FRA: Correlation
Baird Medical Investment Holdings Ltd (BDMD) and Blackrock Floating Rate Income Strategies Fund Inc (FRA) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDMD and FRA?
Across a 3-year window, the weekly returns of BDMD and FRA correlate at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Stretching to 5 years gives -0.22, with an annualized covariance of -642.9 %².
Out of 15 assets tracked against BDMD, FRA lands near the bottom at #13. Their recent paths diverged sharply: over the last 12 months FRA outperformed by 48.4 percentage points (-54.9% for BDMD against -6.5% for FRA). Note the risk asymmetry: BDMD runs 16.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BDMD vs FRA: side by side
| BDMD (Baird Medical Investment Holdings Ltd) | FRA (Blackrock Floating Rate Income Strategies Fund Inc) | |
|---|---|---|
| 1-year return | -54.9% | -6.5% |
| 5-year return | -88.5% | +37.4% |
| Volatility (ann.) | 187.8% | 11.6% |
| Beta vs S&P 500 | -0.54 | 0.44 |
| Max drawdown (3Y) | -93.6% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | 15.6 |
| Dividend yield | 0.00% | 13.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDMD | FRA |
|---|---|---|
| 2022 | +4.1% | -10.6% |
| 2023 | +4.4% | +25.5% |
| 2024 | -29.0% | +21.6% |
| 2025 | -82.1% | -3.7% |
| 2026 | -18.4% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDMD and FRA good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BDMD and FRA?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.24 over the last year and -0.22 over 5 years.
Is FRA a good diversifier for BDMD?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/bdmd-vs-fra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdmd-vs-fra/)
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Related comparisons
Hubs: BDMD correlations · FRA correlations
