BNC vs MAA: Correlation
CEA Industries Inc. (BNC) and Mid-America Apartment Communities (MAA) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and MAA?
Across a 3-year window, the weekly returns of BNC and MAA correlate at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.09 versus -0.17 over 3 years. Stretching to 5 years gives -0.12, with an annualized covariance of -411.7 %².
By 3-year correlation, MAA places #14 of the 37 assets tracked against BNC. The last year tells two different stories: MAA led by 79.5 percentage points, -86.1% for BNC against -6.6% for MAA. One caveat on sizing: BNC is 5.9 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 MAA: side by side
| BNC (CEA Industries Inc.) | MAA (Mid-America Apartment Communities) | |
|---|---|---|
| 1-year return | -86.1% | -6.6% |
| 5-year return | -97.4% | -19.3% |
| Volatility (ann.) | 120.4% | 20.3% |
| Beta vs S&P 500 | -0.47 | 0.49 |
| Max drawdown (3Y) | -96.5% | -26.4% |
| Market cap | $0.1B | $15.3B |
| P/E (trailing) | 0.0 | 37.7 |
| Dividend yield | 0.00% | 4.63% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | BNC | MAA |
|---|---|---|
| 2022 | -82.5% | -29.7% |
| 2023 | -34.9% | -11.1% |
| 2024 | +23.7% | +19.9% |
| 2025 | -20.9% | -6.4% |
| 2026 | -53.1% | -4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and MAA good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between BNC and MAA?
The BNC/MAA correlation stands at -0.17 on a 3-year window (1 year: 0.09, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is MAA a good diversifier for BNC?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bnc-vs-maa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bnc-vs-maa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BNC correlations · MAA correlations
