BNC vs SLB: Correlation
How closely do CEA Industries Inc. (BNC) and Schlumberger (SLB) 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 SLB?
Over the past 3 years, BNC and SLB moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.16) sits close to the 3-year figure. Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -661.9 %².
Among the 37 assets we track against BNC, SLB ranks #13 by 3-year correlation. The last year tells two different stories: SLB led by 143.2 percentage points, -86.1% for BNC against +57.1% for SLB. Note the risk asymmetry: BNC runs 3.4 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 SLB: side by side
| BNC (CEA Industries Inc.) | SLB (Schlumberger) | |
|---|---|---|
| 1-year return | -86.1% | +57.1% |
| 5-year return | -97.4% | +117.1% |
| Volatility (ann.) | 120.4% | 35.1% |
| Beta vs S&P 500 | -0.47 | 0.57 |
| Max drawdown (3Y) | -96.5% | -46.6% |
| Market cap | $0.1B | $81.6B |
| P/E (trailing) | 0.0 | 26.2 |
| Dividend yield | 0.00% | 2.16% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | BNC | SLB |
|---|---|---|
| 2022 | -82.5% | +81.2% |
| 2023 | -34.9% | -0.8% |
| 2024 | +23.7% | -24.5% |
| 2025 | -20.9% | +3.3% |
| 2026 | -53.1% | +44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and SLB good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BNC and SLB?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with -0.16 over the last year and -0.04 over 5 years.
Is SLB a good diversifier for BNC?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
A reading of -0.16 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BNC correlations · SLB correlations
