BG vs MA: Correlation
Measured on weekly returns over the past three years, Bunge Global (BG) and Mastercard (MA) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BG and MA?
Across a 3-year window, the weekly returns of BG and MA correlate at -0.18, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.18). Stretching to 5 years gives -0.04, with an annualized covariance of -106.8 %².
Within BG's tracked universe of 37 assets, MA comes in at #25 by 3-year correlation. The last year tells two different stories: BG led by 34.4 percentage points, +35.2% for BG against +0.8% for MA. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.32 to 0.35. Note the risk asymmetry: BG runs 1.6 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.
BG vs MA: side by side
| BG (Bunge Global) | MA (Mastercard) | |
|---|---|---|
| 1-year return | +35.2% | +0.8% |
| 5-year return | +68.5% | +72.6% |
| Volatility (ann.) | 30.7% | 19.3% |
| Beta vs S&P 500 | 0.09 | 0.77 |
| Max drawdown (3Y) | -38.8% | -20.9% |
| Market cap | $21.4B | $518.4B |
| P/E (trailing) | 24.4 | 32.9 |
| Dividend yield | 2.51% | 0.56% |
| Sector / category | Consumer Staples | Financials |
Year-by-year returns
| Year | BG | MA |
|---|---|---|
| 2022 | +9.3% | -2.7% |
| 2023 | +3.8% | +23.4% |
| 2024 | -20.7% | +24.2% |
| 2025 | +18.6% | +9.0% |
| 2026 | +27.5% | +4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BG and MA good diversifiers for each other?
Yes. With a correlation of -0.18, BG and MA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BG and MA?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.36 over the last year and -0.04 over 5 years.
Is MA a good diversifier for BG?
Yes. With a correlation of -0.18, BG and MA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 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/bg-vs-ma.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bg-vs-ma/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BG correlations · MA correlations
