BIOX vs SBAC: Correlation
Measured on weekly returns over the past three years, Bioceres Crop Solutions Corp. (BIOX) and SBA Communications (SBAC) 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 SBAC?
Across a 3-year window, the weekly returns of BIOX and SBAC correlate at 0.32, moderate. The link has tightened recently: the 1-year correlation (0.48) runs above the 3-year figure (0.32). Stretching to 5 years gives 0.27, with an annualized covariance of 652.9 %².
Within BIOX's tracked universe of 10 assets, SBAC comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SBAC outperformed by 77.1 percentage points (-85.0% for BIOX against -7.9% for SBAC). One caveat on sizing: BIOX is 2.2 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 SBAC: side by side
| BIOX (Bioceres Crop Solutions Corp.) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | -85.0% | -7.9% |
| 5-year return | -97.0% | -43.3% |
| Volatility (ann.) | 67.6% | 30.1% |
| Beta vs S&P 500 | 0.97 | 0.42 |
| Max drawdown (3Y) | -97.7% | -32.2% |
| Market cap | – | $19.8B |
| P/E (trailing) | – | 20.0 |
| Dividend yield | 0.00% | 2.54% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | BIOX | SBAC |
|---|---|---|
| 2022 | -14.9% | -27.3% |
| 2023 | +14.1% | -8.2% |
| 2024 | -55.7% | -18.2% |
| 2025 | -78.5% | -3.1% |
| 2026 | -69.2% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIOX and SBAC good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BIOX and SBAC?
As of 2026-08-27, the correlation of weekly returns between BIOX and SBAC is 0.32 over 3 years, 0.48 over 1 year and 0.27 over 5 years.
Is SBAC a good diversifier for BIOX?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 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/biox-vs-sbac.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/biox-vs-sbac/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BIOX correlations · SBAC correlations
