BNC vs HBB: Correlation
Measured on weekly returns over the past three years, CEA Industries Inc. (BNC) and Hamilton Beach Brands Holding Company (HBB) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and HBB?
Over the past 3 years, BNC and HBB moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.27). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -1786.6 %².
Within BNC's tracked universe of 37 assets, HBB comes in at #31 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HBB outperformed by 217.6 percentage points (-86.1% for BNC against +131.5% for HBB). Note the risk asymmetry: BNC runs 2.2 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.
BNC vs HBB: side by side
| BNC (CEA Industries Inc.) | HBB (Hamilton Beach Brands Holding Company) | |
|---|---|---|
| 1-year return | -86.1% | +131.5% |
| 5-year return | -97.4% | +119.7% |
| Volatility (ann.) | 120.4% | 55.5% |
| Beta vs S&P 500 | -0.47 | 0.87 |
| Max drawdown (3Y) | -96.5% | -57.7% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | 0.0 | 7.6 |
| Dividend yield | 0.00% | 1.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BNC | HBB |
|---|---|---|
| 2022 | -82.5% | -10.9% |
| 2023 | -34.9% | +46.4% |
| 2024 | +23.7% | -1.6% |
| 2025 | -20.9% | +0.5% |
| 2026 | -53.1% | +99.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and HBB good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BNC and HBB?
As of 2026-08-27, the correlation of weekly returns between BNC and HBB is -0.27 over 3 years, -0.09 over 1 year and -0.15 over 5 years.
Is HBB a good diversifier for BNC?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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-hbb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bnc-vs-hbb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BNC correlations · HBB correlations
