BIOX vs DGICB: Correlation
Measured on weekly returns over the past three years, Bioceres Crop Solutions Corp. (BIOX) and Donegal Group, Inc. (DGICB) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIOX and DGICB?
On 3 years of weekly data the BIOX/DGICB correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.23 over 3 years. The 5-year figure is -0.20, and annualized covariance runs at -640.7 %².
Among the 10 assets we track against BIOX, DGICB sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months DGICB outperformed by 153.3 percentage points (-85.0% for BIOX against +68.3% for DGICB). One caveat on sizing: BIOX 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.
BIOX vs DGICB: side by side
| BIOX (Bioceres Crop Solutions Corp.) | DGICB (Donegal Group, Inc.) | |
|---|---|---|
| 1-year return | -85.0% | +68.3% |
| 5-year return | -97.0% | +82.3% |
| Volatility (ann.) | 67.6% | 41.5% |
| Beta vs S&P 500 | 0.97 | 0.15 |
| Max drawdown (3Y) | -97.7% | -30.3% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | 12.1 |
| Dividend yield | 0.00% | 3.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIOX | DGICB |
|---|---|---|
| 2022 | -14.9% | +25.8% |
| 2023 | +14.1% | -6.8% |
| 2024 | -55.7% | +1.6% |
| 2025 | -78.5% | +30.8% |
| 2026 | -69.2% | +34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIOX and DGICB 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 BIOX and DGICB?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.39 over the last year and -0.20 over 5 years.
Is DGICB a good diversifier for BIOX?
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?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/biox-vs-dgicb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/biox-vs-dgicb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BIOX correlations · DGICB correlations
