BNC vs UPS: Correlation
CEA Industries Inc. (BNC) and United Parcel Service (UPS) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and UPS?
Across a 3-year window, the weekly returns of BNC and UPS correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.22 over 3 years. Stretching to 5 years gives -0.09, with an annualized covariance of -764.7 %².
Within BNC's tracked universe of 37 assets, UPS comes in at #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UPS ahead by 114.3 points (-86.1% versus +28.2%). One caveat on sizing: BNC is 4.1 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 UPS: side by side
| BNC (CEA Industries Inc.) | UPS (United Parcel Service) | |
|---|---|---|
| 1-year return | -86.1% | +28.2% |
| 5-year return | -97.4% | -31.0% |
| Volatility (ann.) | 120.4% | 29.4% |
| Beta vs S&P 500 | -0.47 | 0.81 |
| Max drawdown (3Y) | -96.5% | -46.5% |
| Market cap | $0.1B | $89.9B |
| P/E (trailing) | 0.0 | 19.6 |
| Dividend yield | 0.00% | 6.21% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | BNC | UPS |
|---|---|---|
| 2022 | -82.5% | -16.2% |
| 2023 | -34.9% | -6.0% |
| 2024 | +23.7% | -15.9% |
| 2025 | -20.9% | -15.9% |
| 2026 | -53.1% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and UPS good diversifiers for each other?
Yes. With a correlation of -0.22, BNC and UPS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BNC and UPS?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.03 over the last year and -0.09 over 5 years.
Is UPS a good diversifier for BNC?
Yes. With a correlation of -0.22, BNC and UPS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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-ups.json
Markdown for the live badge, attribution link included:
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Free with attribution; caching and terms are described in the API documentation.
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Hubs: BNC correlations · UPS correlations
