BDMD vs NMRA: Correlation
Baird Medical Investment Holdings Ltd (BDMD) and Neumora Therapeutics, Inc. (NMRA) show a negative relationship: their 3-year correlation of weekly returns is -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDMD and NMRA?
Over the past 3 years, BDMD and NMRA moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.03 versus -0.36 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -7470.5 %².
Out of 15 assets tracked against BDMD, NMRA lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months NMRA outperformed by 39.0 percentage points (-54.9% for BDMD against -15.9% for NMRA). One caveat on sizing: BDMD is 1.7 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.
BDMD vs NMRA: side by side
| BDMD (Baird Medical Investment Holdings Ltd) | NMRA (Neumora Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -54.9% | -15.9% |
| 5-year return | -88.5% | n/a |
| Volatility (ann.) | 187.8% | 111.2% |
| Beta vs S&P 500 | -0.54 | 2.04 |
| Max drawdown (3Y) | -93.6% | -96.9% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDMD | NMRA |
|---|---|---|
| 2022 | +4.1% | – |
| 2023 | +4.4% | – |
| 2024 | -29.0% | -37.8% |
| 2025 | -82.1% | -83.1% |
| 2026 | -18.4% | -17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDMD and NMRA good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BDMD and NMRA?
As of 2026-08-27, the correlation of weekly returns between BDMD and NMRA is -0.36 over 3 years, 0.03 over 1 year and n/a over 5 years.
Is NMRA a good diversifier for BDMD?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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
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Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bdmd-vs-nmra/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BDMD correlations · NMRA correlations
