BDSX vs GSIW: Correlation
Biodesix, Inc. (BDSX) and Garden Stage Limited - Class A (GSIW) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDSX and GSIW?
Across a 3-year window, the weekly returns of BDSX and GSIW correlate at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -2790.7 %².
Among the 11 assets we track against BDSX, GSIW sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with BDSX ahead by 227.5 points (+203.0% versus -24.5%). One caveat on sizing: GSIW 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.
BDSX vs GSIW: side by side
| BDSX (Biodesix, Inc.) | GSIW (Garden Stage Limited - Class A) | |
|---|---|---|
| 1-year return | +203.0% | -24.5% |
| 5-year return | -84.0% | n/a |
| Volatility (ann.) | 92.6% | 159.9% |
| Beta vs S&P 500 | 0.57 | 1.06 |
| Max drawdown (3Y) | -89.7% | -99.7% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDSX | GSIW |
|---|---|---|
| 2022 | -56.5% | – |
| 2023 | -20.0% | – |
| 2024 | -16.8% | -91.5% |
| 2025 | -77.8% | -80.6% |
| 2026 | +318.8% | -41.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDSX and GSIW good diversifiers for each other?
Yes. With a correlation of -0.19, BDSX and GSIW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BDSX and GSIW?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.21 over the last year and n/a over 5 years.
Is GSIW a good diversifier for BDSX?
Yes. With a correlation of -0.19, BDSX and GSIW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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.
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Related comparisons
Hubs: BDSX correlations · GSIW correlations
