BNC vs ESS: Correlation
Measured on weekly returns over the past three years, CEA Industries Inc. (BNC) and Essex Property Trust (ESS) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and ESS?
Over the past 3 years, BNC and ESS moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.11) runs above the 3-year figure (-0.22). Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -596.3 %².
By 3-year correlation, ESS places #22 of the 37 assets tracked against BNC. Their recent paths diverged sharply: over the last 12 months ESS outperformed by 95.2 percentage points (-86.1% for BNC against +9.1% for ESS). One caveat on sizing: BNC is 5.4 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.
BNC vs ESS: side by side
| BNC (CEA Industries Inc.) | ESS (Essex Property Trust) | |
|---|---|---|
| 1-year return | -86.1% | +9.1% |
| 5-year return | -97.4% | +3.0% |
| Volatility (ann.) | 120.4% | 22.2% |
| Beta vs S&P 500 | -0.47 | 0.64 |
| Max drawdown (3Y) | -96.5% | -20.8% |
| Market cap | $0.1B | $19.4B |
| P/E (trailing) | 0.0 | 44.8 |
| Dividend yield | 0.00% | 3.58% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | BNC | ESS |
|---|---|---|
| 2022 | -82.5% | -37.8% |
| 2023 | -34.9% | +22.0% |
| 2024 | +23.7% | +18.4% |
| 2025 | -20.9% | -5.0% |
| 2026 | -53.1% | +10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and ESS good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between BNC and ESS?
The BNC/ESS correlation stands at -0.22 on a 3-year window (1 year: 0.11, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is ESS a good diversifier for BNC?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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-ess.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bnc-vs-ess/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BNC correlations · ESS correlations
