BGLC vs NNOX: Correlation
How closely do BioNexus Gene Lab Corp (BGLC) and NANO-X IMAGING LTD (NNOX) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGLC and NNOX?
Across a 3-year window, the weekly returns of BGLC and NNOX correlate at 0.43, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.43). Stretching to 5 years gives 0.18, with an annualized covariance of 8097.6 %².
Within BGLC's tracked universe of 14 assets, NNOX comes in at #5 by 3-year correlation. The trailing year gives BGLC the advantage: -73.2% versus -78.6%, a 5.4-point spread. One caveat on sizing: BGLC 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.
BGLC vs NNOX: side by side
| BGLC (BioNexus Gene Lab Corp) | NNOX (NANO-X IMAGING LTD) | |
|---|---|---|
| 1-year return | -73.2% | -78.6% |
| 5-year return | -99.2% | -96.5% |
| Volatility (ann.) | 177.7% | 106.8% |
| Beta vs S&P 500 | 1.05 | 1.70 |
| Max drawdown (3Y) | -93.4% | -93.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGLC | NNOX |
|---|---|---|
| 2022 | -55.4% | -49.2% |
| 2023 | -95.4% | -13.7% |
| 2024 | -47.2% | +13.0% |
| 2025 | +41.1% | -61.1% |
| 2026 | -62.0% | -69.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGLC and NNOX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BGLC and NNOX?
As of 2026-08-27, the correlation of weekly returns between BGLC and NNOX is 0.43 over 3 years, 0.22 over 1 year and 0.18 over 5 years.
Is NNOX a good diversifier for BGLC?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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/bglc-vs-nnox.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bglc-vs-nnox/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BGLC correlations · NNOX correlations
