BGMS vs FRHC: Correlation
Measured on weekly returns over the past three years, Bio Green Med Solution, Inc. (BGMS) and Freedom Holding Corp. (FRHC) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGMS and FRHC?
On 3 years of weekly data the BGMS/FRHC correlation comes out at 0.37, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.50 versus 0.37 over 3 years. The 5-year figure is 0.32, and annualized covariance runs at 3015.8 %².
Within BGMS's tracked universe of 15 assets, FRHC comes in at #7 by 3-year correlation. The last year tells two different stories: FRHC led by 87.1 percentage points, -89.0% for BGMS against -1.9% for FRHC. Risk is not evenly split, since BGMS carries 5.1 times the volatility of the other side.
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.
BGMS vs FRHC: side by side
| BGMS (Bio Green Med Solution, Inc.) | FRHC (Freedom Holding Corp.) | |
|---|---|---|
| 1-year return | -89.0% | -1.9% |
| 5-year return | -100.0% | +163.7% |
| Volatility (ann.) | 203.4% | 39.9% |
| Beta vs S&P 500 | 0.91 | 0.87 |
| Max drawdown (3Y) | -100.0% | -41.1% |
| Market cap | – | $10.9B |
| P/E (trailing) | – | 71.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGMS | FRHC |
|---|---|---|
| 2022 | -82.8% | -16.0% |
| 2023 | -73.4% | +38.4% |
| 2024 | -85.8% | +62.1% |
| 2025 | -96.6% | -6.9% |
| 2026 | -39.8% | +40.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGMS and FRHC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BGMS and FRHC?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.50 over the last year and 0.32 over 5 years.
Is FRHC a good diversifier for BGMS?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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
$ curl https://www.pairbook.io/api/v1/pairs/bgms-vs-frhc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bgms-vs-frhc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BGMS correlations · FRHC correlations
