BGMS vs NUWE: Correlation
Bio Green Med Solution, Inc. (BGMS) and Nuwellis, Inc. (NUWE) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGMS and NUWE?
On 3 years of weekly data the BGMS/NUWE correlation comes out at 0.41, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.11 versus 0.41 over 3 years. The 5-year figure is 0.35, and annualized covariance runs at 11687.8 %².
Within BGMS's tracked universe of 15 assets, NUWE comes in at #6 by 3-year correlation. Over the last 12 months BGMS came out ahead by 10.5 percentage points (-89.0% against -99.5%).
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 NUWE: side by side
| BGMS (Bio Green Med Solution, Inc.) | NUWE (Nuwellis, Inc.) | |
|---|---|---|
| 1-year return | -89.0% | -99.5% |
| 5-year return | -100.0% | -100.0% |
| Volatility (ann.) | 203.4% | 141.6% |
| Beta vs S&P 500 | 0.91 | 1.66 |
| Max drawdown (3Y) | -100.0% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGMS | NUWE |
|---|---|---|
| 2022 | -82.8% | -90.6% |
| 2023 | -73.4% | -94.6% |
| 2024 | -85.8% | -94.5% |
| 2025 | -96.6% | -96.3% |
| 2026 | -39.8% | -98.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGMS and NUWE good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BGMS and NUWE?
As of 2026-08-27, the correlation of weekly returns between BGMS and NUWE is 0.41 over 3 years, -0.11 over 1 year and 0.35 over 5 years.
Is NUWE a good diversifier for BGMS?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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-nuwe.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bgms-vs-nuwe/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BGMS correlations · NUWE correlations
