BGMS vs IXHL: Correlation
How closely do Bio Green Med Solution, Inc. (BGMS) and Incannex Healthcare Inc. (IXHL) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGMS and IXHL?
On 3 years of weekly data the BGMS/IXHL correlation comes out at 0.42, moderate. The past 12 months show a weaker link (0.10) than the 3-year average (0.42). The 5-year figure is 0.39, and annualized covariance runs at 15286.8 %².
Among the 15 assets we track against BGMS, IXHL ranks #5 by 3-year correlation. The trailing year gives IXHL the advantage: -89.0% versus -81.6%, a 7.4-point spread.
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 IXHL: side by side
| BGMS (Bio Green Med Solution, Inc.) | IXHL (Incannex Healthcare Inc.) | |
|---|---|---|
| 1-year return | -89.0% | -81.6% |
| 5-year return | -100.0% | -99.8% |
| Volatility (ann.) | 203.4% | 180.7% |
| Beta vs S&P 500 | 0.91 | 3.15 |
| Max drawdown (3Y) | -100.0% | -99.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGMS | IXHL |
|---|---|---|
| 2022 | -82.8% | – |
| 2023 | -73.4% | -58.6% |
| 2024 | -85.8% | -54.3% |
| 2025 | -96.6% | -83.1% |
| 2026 | -39.8% | -65.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGMS and IXHL good diversifiers for each other?
Reasonably. At 0.42, BGMS and IXHL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BGMS and IXHL?
The BGMS/IXHL correlation stands at 0.42 on a 3-year window (1 year: 0.10, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is IXHL a good diversifier for BGMS?
Reasonably. At 0.42, BGMS and IXHL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BGMS correlations · IXHL correlations
