BIIB vs RAYA: Correlation
How closely do Biogen (BIIB) and Erayak Power Solution Group Inc. - Class A (RAYA) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIIB and RAYA?
Over the past 3 years, BIIB and RAYA moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.23 over 3. Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -1133.9 %².
Among the 32 assets we track against BIIB, RAYA sits near the bottom by co-movement, at rank #30. The last year tells two different stories: BIIB led by 160.2 percentage points, +62.4% for BIIB against -97.8% for RAYA. Risk is not evenly split, since RAYA carries 5.4 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.
BIIB vs RAYA: side by side
| BIIB (Biogen) | RAYA (Erayak Power Solution Group Inc. - Class A) | |
|---|---|---|
| 1-year return | +62.4% | -97.8% |
| 5-year return | -35.7% | n/a |
| Volatility (ann.) | 30.1% | 162.4% |
| Beta vs S&P 500 | 0.53 | 0.17 |
| Max drawdown (3Y) | -57.7% | -100.0% |
| Market cap | $32.7B | – |
| P/E (trailing) | 39.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BIIB | RAYA |
|---|---|---|
| 2022 | +15.4% | – |
| 2023 | -6.6% | -44.7% |
| 2024 | -40.9% | +23.6% |
| 2025 | +15.1% | -98.7% |
| 2026 | +25.9% | -94.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIIB and RAYA good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BIIB and RAYA?
As of 2026-08-27, the correlation of weekly returns between BIIB and RAYA is -0.23 over 3 years, -0.29 over 1 year and -0.20 over 5 years.
Is RAYA a good diversifier for BIIB?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/biib-vs-raya.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/biib-vs-raya/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BIIB correlations · RAYA correlations
