BMA vs PDEX: Correlation
Banco Macro S.A. ADR (representing Ten Class B (BMA) and Pro-Dex, Inc. (PDEX) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMA and PDEX?
On 3 years of weekly data the BMA/PDEX correlation comes out at 0.26, weak. The past 12 months show a tighter link (0.38) than the 3-year average (0.26). The 5-year figure is 0.21, and annualized covariance runs at 1076.7 %².
By 3-year correlation, PDEX places #9 of the 16 assets tracked against BMA. Twelve-month performance is nearly a tie, at +39.1% for BMA and +42.5% for PDEX.
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.
BMA vs PDEX: side by side
| BMA (Banco Macro S.A. ADR (representing Ten Class B) | PDEX (Pro-Dex, Inc.) | |
|---|---|---|
| 1-year return | +39.1% | +42.5% |
| 5-year return | +460.4% | +152.4% |
| Volatility (ann.) | 68.3% | 59.6% |
| Beta vs S&P 500 | 1.06 | 0.17 |
| Max drawdown (3Y) | -65.9% | -65.3% |
| Market cap | $4.9B | $0.2B |
| P/E (trailing) | 19.7 | 17.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BMA | PDEX |
|---|---|---|
| 2022 | +27.0% | -31.5% |
| 2023 | +91.6% | +10.2% |
| 2024 | +277.8% | +166.8% |
| 2025 | -6.2% | -17.7% |
| 2026 | -11.4% | +68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMA and PDEX good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BMA and PDEX?
As of 2026-08-27, the correlation of weekly returns between BMA and PDEX is 0.26 over 3 years, 0.38 over 1 year and 0.21 over 5 years.
Is PDEX a good diversifier for BMA?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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/bma-vs-pdex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bma-vs-pdex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BMA correlations · PDEX correlations
