BNC vs FLR: Correlation
Measured on weekly returns over the past three years, CEA Industries Inc. (BNC) and Fluor Corporation (FLR) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and FLR?
Across a 3-year window, the weekly returns of BNC and FLR correlate at -0.33, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.33). Stretching to 5 years gives -0.20, with an annualized covariance of -1623.5 %².
FLR is close to the least connected end of BNC's tracked universe, ranking #36 of 37. The last year tells two different stories: FLR led by 117.7 percentage points, -86.1% for BNC against +31.6% for FLR. One caveat on sizing: BNC is 2.9 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 FLR: side by side
| BNC (CEA Industries Inc.) | FLR (Fluor Corporation) | |
|---|---|---|
| 1-year return | -86.1% | +31.6% |
| 5-year return | -97.4% | +231.5% |
| Volatility (ann.) | 120.4% | 41.3% |
| Beta vs S&P 500 | -0.47 | 1.17 |
| Max drawdown (3Y) | -96.5% | -47.6% |
| Market cap | $0.1B | $7.2B |
| P/E (trailing) | 0.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BNC | FLR |
|---|---|---|
| 2022 | -82.5% | +39.9% |
| 2023 | -34.9% | +13.0% |
| 2024 | +23.7% | +25.9% |
| 2025 | -20.9% | -19.6% |
| 2026 | -53.1% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and FLR good diversifiers for each other?
Yes. With a correlation of -0.33, BNC and FLR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BNC and FLR?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.10 over the last year and -0.20 over 5 years.
Is FLR a good diversifier for BNC?
Yes. With a correlation of -0.33, BNC and FLR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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/bnc-vs-flr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bnc-vs-flr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BNC correlations · FLR correlations
