BGI vs BNC: Correlation
Measured on weekly returns over the past three years, Birks Group Inc. (BGI) and CEA Industries Inc. (BNC) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGI and BNC?
On 3 years of weekly data the BGI/BNC correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. The 5-year figure is -0.17, and annualized covariance runs at -1666.9 %².
Among the 10 assets we track against BGI, BNC sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months BGI outperformed by 34.7 percentage points (-51.4% for BGI against -86.1% for BNC). Note the risk asymmetry: BNC runs 1.9 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.
BGI vs BNC: side by side
| BGI (Birks Group Inc.) | BNC (CEA Industries Inc.) | |
|---|---|---|
| 1-year return | -51.4% | -86.1% |
| 5-year return | -88.1% | -97.4% |
| Volatility (ann.) | 64.1% | 120.4% |
| Beta vs S&P 500 | 0.38 | -0.47 |
| Max drawdown (3Y) | -93.1% | -96.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGI | BNC |
|---|---|---|
| 2022 | +63.5% | -82.5% |
| 2023 | -40.9% | -34.9% |
| 2024 | -65.7% | +23.7% |
| 2025 | -44.1% | -20.9% |
| 2026 | -61.1% | -53.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGI and BNC good diversifiers for each other?
Yes. With a correlation of -0.22, BGI and BNC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BGI and BNC?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.16 over the last year and -0.17 over 5 years.
Is BNC a good diversifier for BGI?
Yes. With a correlation of -0.22, BGI and BNC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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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Related comparisons
Hubs: BGI correlations · BNC correlations
