BJDX vs CTRE: Correlation
Bluejay Diagnostics, Inc. (BJDX) and CareTrust REIT, Inc. (CTRE) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJDX and CTRE?
Across a 3-year window, the weekly returns of BJDX and CTRE correlate at -0.27, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.52) runs below the 3-year figure (-0.27). Stretching to 5 years gives -0.12, with an annualized covariance of -873.7 %².
Out of 19 assets tracked against BJDX, CTRE lands near the bottom at #15. The last year tells two different stories: CTRE led by 101.7 percentage points, -83.4% for BJDX against +18.3% for CTRE. One caveat on sizing: BJDX is 7.2 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.
BJDX vs CTRE: side by side
| BJDX (Bluejay Diagnostics, Inc.) | CTRE (CareTrust REIT, Inc.) | |
|---|---|---|
| 1-year return | -83.4% | +18.3% |
| 5-year return | -100.0% | +130.3% |
| Volatility (ann.) | 151.7% | 21.1% |
| Beta vs S&P 500 | -0.30 | 0.18 |
| Max drawdown (3Y) | -100.0% | -23.2% |
| Market cap | – | $9.3B |
| P/E (trailing) | – | 24.9 |
| Dividend yield | 0.00% | 3.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BJDX | CTRE |
|---|---|---|
| 2022 | -85.2% | -13.7% |
| 2023 | -83.9% | +27.3% |
| 2024 | -99.0% | +26.3% |
| 2025 | -86.3% | +39.4% |
| 2026 | -65.9% | +11.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJDX and CTRE good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between BJDX and CTRE?
The BJDX/CTRE correlation stands at -0.27 on a 3-year window (1 year: -0.52, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is CTRE a good diversifier for BJDX?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/bjdx-vs-ctre.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bjdx-vs-ctre/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BJDX correlations · CTRE correlations
