BKHA vs NERV: Correlation
Black Hawk Acquisition Corporation - Class A (BKHA) and Minerva Neurosciences, Inc (NERV) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKHA and NERV?
On 3 years of weekly data the BKHA/NERV correlation comes out at 0.35, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 187.4 %².
In BKHA's tracked universe of 10 assets, NERV sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months NERV outperformed by 108.5 percentage points (+8.0% for BKHA against +116.5% for NERV). One caveat on sizing: NERV is 16.8 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.
BKHA vs NERV: side by side
| BKHA (Black Hawk Acquisition Corporation - Class A) | NERV (Minerva Neurosciences, Inc) | |
|---|---|---|
| 1-year return | +8.0% | +116.5% |
| 5-year return | n/a | -63.8% |
| Volatility (ann.) | 5.9% | 99.2% |
| Beta vs S&P 500 | 0.02 | 1.61 |
| Max drawdown (3Y) | -10.1% | -89.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | 99.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKHA | NERV |
|---|---|---|
| 2022 | – | -75.2% |
| 2023 | – | +286.8% |
| 2024 | – | -63.9% |
| 2025 | +8.4% | +80.9% |
| 2026 | +5.6% | +27.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKHA and NERV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BKHA and NERV?
The BKHA/NERV correlation stands at 0.35 on a 3-year window (1 year: 0.40, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NERV a good diversifier for BKHA?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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/bkha-vs-nerv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bkha-vs-nerv/)
The core API is free. Terms and every endpoint in the API documentation.
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Hubs: BKHA correlations · NERV correlations
