BNC vs RJF: Correlation
How closely do CEA Industries Inc. (BNC) and Raymond James Financial (RJF) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and RJF?
Over the past 3 years, BNC and RJF moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -481.3 %².
Among the 37 assets we track against BNC, RJF ranks #12 by 3-year correlation. The last year tells two different stories: RJF led by 92.4 percentage points, -86.1% for BNC against +6.3% for RJF. Note the risk asymmetry: BNC runs 4.9 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 RJF: side by side
| BNC (CEA Industries Inc.) | RJF (Raymond James Financial) | |
|---|---|---|
| 1-year return | -86.1% | +6.3% |
| 5-year return | -97.4% | +102.1% |
| Volatility (ann.) | 120.4% | 24.8% |
| Beta vs S&P 500 | -0.47 | 1.03 |
| Max drawdown (3Y) | -96.5% | -28.1% |
| Market cap | $0.1B | $33.8B |
| P/E (trailing) | 0.0 | 15.4 |
| Dividend yield | 0.00% | 1.20% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | BNC | RJF |
|---|---|---|
| 2022 | -82.5% | +8.3% |
| 2023 | -34.9% | +6.1% |
| 2024 | +23.7% | +40.8% |
| 2025 | -20.9% | +4.7% |
| 2026 | -53.1% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and RJF good diversifiers for each other?
Yes. With a correlation of -0.16, BNC and RJF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BNC and RJF?
The BNC/RJF correlation stands at -0.16 on a 3-year window (1 year: -0.23, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is RJF a good diversifier for BNC?
Yes. With a correlation of -0.16, BNC and RJF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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-rjf.json
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[](https://www.pairbook.io/pair/bnc-vs-rjf/)
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Related comparisons
Hubs: BNC correlations · RJF correlations
