BHST vs NAK: Correlation
Measured on weekly returns over the past three years, BioHarvest Sciences Inc. (BHST) and Northern Dynasty Minerals, Ltd. (NAK) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHST and NAK?
Across a 3-year window, the weekly returns of BHST and NAK correlate at 0.36, moderate. The link has tightened recently: the 1-year correlation (0.49) runs above the 3-year figure (0.36). Stretching to 5 years gives 0.27, with an annualized covariance of 2144.6 %².
In BHST's tracked universe of 10 assets, NAK sits right near the top at #3. The last year tells two different stories: NAK led by 174.6 percentage points, -78.0% for BHST against +96.6% for NAK. One caveat on sizing: NAK is 1.6 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.
BHST vs NAK: side by side
| BHST (BioHarvest Sciences Inc.) | NAK (Northern Dynasty Minerals, Ltd.) | |
|---|---|---|
| 1-year return | -78.0% | +96.6% |
| 5-year return | -83.4% | +326.8% |
| Volatility (ann.) | 61.8% | 96.9% |
| Beta vs S&P 500 | 0.85 | 1.03 |
| Max drawdown (3Y) | -85.4% | -67.8% |
| Market cap | – | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHST | NAK |
|---|---|---|
| 2022 | -39.4% | -33.3% |
| 2023 | -27.5% | +45.5% |
| 2024 | +11.8% | +81.2% |
| 2025 | -16.0% | +239.7% |
| 2026 | -64.4% | -11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHST and NAK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BHST and NAK?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.49 over the last year and 0.27 over 5 years.
Is NAK a good diversifier for BHST?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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/bhst-vs-nak.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhst-vs-nak/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BHST correlations · NAK correlations
