BIOX vs NMFC: Correlation
Measured on weekly returns over the past three years, Bioceres Crop Solutions Corp. (BIOX) and New Mountain Finance Corporation (NMFC) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIOX and NMFC?
Across a 3-year window, the weekly returns of BIOX and NMFC correlate at 0.32, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Stretching to 5 years gives 0.30, with an annualized covariance of 427.5 %².
Within BIOX's tracked universe of 10 assets, NMFC comes in at #4 by 3-year correlation. The last year tells two different stories: NMFC led by 68.9 percentage points, -85.0% for BIOX against -16.1% for NMFC. Note the risk asymmetry: BIOX runs 3.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 NMFC: side by side
| BIOX (Bioceres Crop Solutions Corp.) | NMFC (New Mountain Finance Corporation) | |
|---|---|---|
| 1-year return | -85.0% | -16.1% |
| 5-year return | -97.0% | +1.4% |
| Volatility (ann.) | 67.6% | 19.7% |
| Beta vs S&P 500 | 0.97 | 0.53 |
| Max drawdown (3Y) | -97.7% | -30.6% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 15.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIOX | NMFC |
|---|---|---|
| 2022 | -14.9% | -0.6% |
| 2023 | +14.1% | +15.8% |
| 2024 | -55.7% | -0.9% |
| 2025 | -78.5% | -7.2% |
| 2026 | -69.2% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIOX and NMFC good diversifiers for each other?
Reasonably. At 0.32, BIOX and NMFC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BIOX and NMFC?
As of 2026-08-27, the correlation of weekly returns between BIOX and NMFC is 0.32 over 3 years, 0.40 over 1 year and 0.30 over 5 years.
Is NMFC a good diversifier for BIOX?
Reasonably. At 0.32, BIOX and NMFC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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-nmfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/biox-vs-nmfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BIOX correlations · NMFC correlations
