BNC vs RGA: Correlation
How closely do CEA Industries Inc. (BNC) and Reinsurance Group of America, Incorporated (RGA) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and RGA?
Over the past 3 years, BNC and RGA moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.27 over 3 years. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -754.8 %².
By 3-year correlation, RGA places #32 of the 37 assets tracked against BNC. Their recent paths diverged sharply: over the last 12 months RGA outperformed by 115.1 percentage points (-86.1% for BNC against +29.0% for RGA). Risk is not evenly split, since BNC carries 5.2 times the volatility of the other side.
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 RGA: side by side
| BNC (CEA Industries Inc.) | RGA (Reinsurance Group of America, Incorporated) | |
|---|---|---|
| 1-year return | -86.1% | +29.0% |
| 5-year return | -97.4% | +136.6% |
| Volatility (ann.) | 120.4% | 23.0% |
| Beta vs S&P 500 | -0.47 | 0.60 |
| Max drawdown (3Y) | -96.5% | -27.1% |
| Market cap | $0.1B | $16.1B |
| P/E (trailing) | 0.0 | 10.9 |
| Dividend yield | 0.00% | 1.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BNC | RGA |
|---|---|---|
| 2022 | -82.5% | +33.0% |
| 2023 | -34.9% | +16.4% |
| 2024 | +23.7% | +34.4% |
| 2025 | -20.9% | -3.0% |
| 2026 | -53.1% | +22.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and RGA 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 RGA?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.06 over the last year and -0.12 over 5 years.
Is RGA 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?
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-rga.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bnc-vs-rga/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BNC correlations · RGA correlations
