BN vs CVNA: Correlation
Brookfield Corporation Class A Limited Voting Shares (BN) and Carvana (CVNA) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BN and CVNA?
Across a 3-year window, the weekly returns of BN and CVNA correlate at 0.54, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.54 over 3. Stretching to 5 years gives 0.50, with an annualized covariance of 1143.6 %².
Among the 32 assets we track against BN, CVNA ranks #18 by 3-year correlation. The trailing year gives CVNA the advantage: -4.5% versus +0.8%, a 5.3-point spread. One caveat on sizing: CVNA is 2.6 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.
BN vs CVNA: side by side
| BN (Brookfield Corporation Class A Limited Voting Shares) | CVNA (Carvana) | |
|---|---|---|
| 1-year return | -4.5% | +0.8% |
| 5-year return | +42.1% | +9.7% |
| Volatility (ann.) | 28.8% | 73.7% |
| Beta vs S&P 500 | 1.47 | 2.66 |
| Max drawdown (3Y) | -27.8% | -53.5% |
| Market cap | $92.5B | $82.1B |
| P/E (trailing) | 76.7 | 39.0 |
| Dividend yield | 0.62% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | BN | CVNA |
|---|---|---|
| 2022 | -34.6% | -98.0% |
| 2023 | +28.6% | +1016.9% |
| 2024 | +44.2% | +284.1% |
| 2025 | +20.5% | +107.5% |
| 2026 | -9.4% | -12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BN and CVNA good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BN and CVNA?
The BN/CVNA correlation stands at 0.54 on a 3-year window (1 year: 0.50, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is CVNA a good diversifier for BN?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 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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Related comparisons
Hubs: BN correlations · CVNA correlations
