BNC vs EQ: Correlation
How closely do CEA Industries Inc. (BNC) and Equillium, Inc. (EQ) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and EQ?
Over the past 3 years, BNC and EQ moved with a correlation of 0.41, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.41 over 3 years. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 7328.3 %².
Within BNC's tracked universe of 37 assets, EQ comes in at #4 by 3-year correlation. The last year tells two different stories: EQ led by 114.4 percentage points, -86.1% for BNC against +28.3% for EQ.
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.
BNC vs EQ: side by side
| BNC (CEA Industries Inc.) | EQ (Equillium, Inc.) | |
|---|---|---|
| 1-year return | -86.1% | +28.3% |
| 5-year return | -97.4% | -60.0% |
| Volatility (ann.) | 120.4% | 147.8% |
| Beta vs S&P 500 | -0.47 | 0.03 |
| Max drawdown (3Y) | -96.5% | -90.3% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | 0.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BNC | EQ |
|---|---|---|
| 2022 | -82.5% | -71.9% |
| 2023 | -34.9% | -32.1% |
| 2024 | +23.7% | +4.2% |
| 2025 | -20.9% | +106.7% |
| 2026 | -53.1% | +58.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and EQ good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BNC and EQ?
The BNC/EQ correlation stands at 0.41 on a 3-year window (1 year: 0.19, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is EQ a good diversifier for BNC?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bnc-vs-eq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bnc-vs-eq/)
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Related comparisons
Hubs: BNC correlations · EQ correlations
