BMY vs FLYE: Correlation
How closely do Bristol Myers Squibb (BMY) and Fly-E Group, Inc. (FLYE) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and FLYE?
Across a 3-year window, the weekly returns of BMY and FLYE correlate at -0.17, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.01) runs above the 3-year figure (-0.17). Stretching to 5 years gives n/a, with an annualized covariance of -746.7 %².
By 3-year correlation, FLYE places #25 of the 31 assets tracked against BMY. Correlation aside, the last 12 months split them widely, with BMY ahead by 136.3 points (+47.3% versus -89.0%). Note the risk asymmetry: FLYE runs 5.5 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.
BMY vs FLYE: side by side
| BMY (Bristol Myers Squibb) | FLYE (Fly-E Group, Inc.) | |
|---|---|---|
| 1-year return | +47.3% | -89.0% |
| 5-year return | +22.3% | n/a |
| Volatility (ann.) | 27.8% | 153.0% |
| Beta vs S&P 500 | 0.20 | 1.73 |
| Max drawdown (3Y) | -34.1% | -99.8% |
| Market cap | $136.8B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BMY | FLYE |
|---|---|---|
| 2022 | +19.0% | – |
| 2023 | -26.1% | – |
| 2024 | +15.8% | – |
| 2025 | +0.1% | -92.1% |
| 2026 | +28.3% | -74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMY and FLYE good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between BMY and FLYE?
As of 2026-08-27, the correlation of weekly returns between BMY and FLYE is -0.17 over 3 years, -0.01 over 1 year and n/a over 5 years.
Is FLYE a good diversifier for BMY?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 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.
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Related comparisons
Hubs: BMY correlations · FLYE correlations
