BJ vs INM: Correlation
Measured on weekly returns over the past three years, BJ's Wholesale Club Holdings, Inc. (BJ) and InMed Pharmaceuticals Inc. (INM) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJ and INM?
Over the past 3 years, BJ and INM moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.22 over 3 years. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -994.2 %².
Among the 43 assets we track against BJ, INM ranks #26 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BJ outperformed by 29.5 percentage points (-6.9% for BJ against -36.4% for INM). Note the risk asymmetry: INM runs 6.4 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.
BJ vs INM: side by side
| BJ (BJ's Wholesale Club Holdings, Inc.) | INM (InMed Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | -6.9% | -36.4% |
| 5-year return | +59.5% | -99.9% |
| Volatility (ann.) | 26.4% | 169.8% |
| Beta vs S&P 500 | -0.14 | 2.62 |
| Max drawdown (3Y) | -30.1% | -96.9% |
| Market cap | $11.4B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BJ | INM |
|---|---|---|
| 2022 | -1.2% | -93.8% |
| 2023 | +0.8% | -79.4% |
| 2024 | +34.0% | -43.0% |
| 2025 | +0.8% | -77.6% |
| 2026 | +0.5% | +34.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJ and INM good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between BJ and INM?
As of 2026-08-27, the correlation of weekly returns between BJ and INM is -0.22 over 3 years, -0.42 over 1 year and -0.09 over 5 years.
Is INM a good diversifier for BJ?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/bj-vs-inm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bj-vs-inm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BJ correlations · INM correlations
