BGSF vs FTEK: Correlation
BGSF, Inc. (BGSF) and Fuel Tech, Inc. (FTEK) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGSF and FTEK?
Over the past 3 years, BGSF and FTEK moved with a correlation of 0.33, which is moderate. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 1031.6 %².
By 3-year correlation, FTEK places #4 of the 12 assets tracked against BGSF. Their recent paths diverged sharply: over the last 12 months BGSF outperformed by 69.6 percentage points (+19.8% for BGSF against -49.8% for FTEK).
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.
BGSF vs FTEK: side by side
| BGSF (BGSF, Inc.) | FTEK (Fuel Tech, Inc.) | |
|---|---|---|
| 1-year return | +19.8% | -49.8% |
| 5-year return | -36.0% | -21.1% |
| Volatility (ann.) | 54.3% | 58.1% |
| Beta vs S&P 500 | 0.47 | 0.70 |
| Max drawdown (3Y) | -71.9% | -67.2% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGSF | FTEK |
|---|---|---|
| 2022 | +11.7% | -9.3% |
| 2023 | -35.1% | -17.3% |
| 2024 | -43.4% | +0.0% |
| 2025 | +23.0% | +48.6% |
| 2026 | +15.8% | -6.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGSF and FTEK good diversifiers for each other?
Reasonably. At 0.33, BGSF and FTEK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BGSF and FTEK?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.30 over the last year and 0.29 over 5 years.
Is FTEK a good diversifier for BGSF?
Reasonably. At 0.33, BGSF and FTEK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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.
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Related comparisons
Hubs: BGSF correlations · FTEK correlations
