BIRD vs BMI: Correlation
How closely do Smartbird, Inc. (BIRD) and Badger Meter, Inc. (BMI) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIRD and BMI?
Across a 3-year window, the weekly returns of BIRD and BMI correlate at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.60 versus -0.33 over 3 years. Stretching to 5 years gives -0.18, with an annualized covariance of -2649.4 %².
BMI is close to the least connected end of BIRD's tracked universe, ranking #17 of 17. Their recent paths diverged sharply: over the last 12 months BMI outperformed by 25.3 percentage points (-51.4% for BIRD against -26.1% for BMI). Note the risk asymmetry: BIRD runs 6.3 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.
BIRD vs BMI: side by side
| BIRD (Smartbird, Inc.) | BMI (Badger Meter, Inc.) | |
|---|---|---|
| 1-year return | -51.4% | -26.1% |
| 5-year return | -99.5% | +33.9% |
| Volatility (ann.) | 225.6% | 35.9% |
| Beta vs S&P 500 | 3.94 | 0.62 |
| Max drawdown (3Y) | -92.3% | -55.1% |
| Market cap | – | $4.0B |
| P/E (trailing) | – | 32.1 |
| Dividend yield | 0.00% | 1.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIRD | BMI |
|---|---|---|
| 2022 | -84.0% | +3.2% |
| 2023 | -49.4% | +42.6% |
| 2024 | -71.6% | +38.3% |
| 2025 | -41.2% | -17.2% |
| 2026 | -22.7% | -20.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIRD and BMI good diversifiers for each other?
Yes. With a correlation of -0.33, BIRD and BMI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BIRD and BMI?
As of 2026-08-27, the correlation of weekly returns between BIRD and BMI is -0.33 over 3 years, -0.60 over 1 year and -0.18 over 5 years.
Is BMI a good diversifier for BIRD?
Yes. With a correlation of -0.33, BIRD and BMI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 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/bird-vs-bmi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bird-vs-bmi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BIRD correlations · BMI correlations
