BKHA vs MMSI: Correlation
How closely do Black Hawk Acquisition Corporation - Class A (BKHA) and Merit Medical Systems, Inc. (MMSI) 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 BKHA and MMSI?
Over the past 3 years, BKHA and MMSI moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.33 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -49.5 %².
Out of 10 assets tracked against BKHA, MMSI lands near the bottom at #9. Over the last 12 months BKHA came out ahead by 9.4 percentage points (+8.0% against -1.4%). Risk is not evenly split, since MMSI carries 4.2 times the volatility of the other side.
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.
BKHA vs MMSI: side by side
| BKHA (Black Hawk Acquisition Corporation - Class A) | MMSI (Merit Medical Systems, Inc.) | |
|---|---|---|
| 1-year return | +8.0% | -1.4% |
| 5-year return | n/a | +25.2% |
| Volatility (ann.) | 5.9% | 24.7% |
| Beta vs S&P 500 | 0.02 | 0.50 |
| Max drawdown (3Y) | -10.1% | -45.3% |
| Market cap | – | $5.3B |
| P/E (trailing) | 99.0 | 37.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKHA | MMSI |
|---|---|---|
| 2022 | – | +13.4% |
| 2023 | – | +7.6% |
| 2024 | – | +27.3% |
| 2025 | +8.4% | -8.9% |
| 2026 | +5.6% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKHA and MMSI good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between BKHA and MMSI?
As of 2026-08-27, the correlation of weekly returns between BKHA and MMSI is -0.33 over 3 years, -0.33 over 1 year and n/a over 5 years.
Is MMSI a good diversifier for BKHA?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
A reading of -0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: BKHA correlations · MMSI correlations
