BNT vs CVNA: Correlation
How closely do Brookfield Wealth Solutions Ltd. Class A Exchangeable (BNT) and Carvana (CVNA) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNT and CVNA?
On 3 years of weekly data the BNT/CVNA correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 1127.3 %².
By 3-year correlation, CVNA places #14 of the 28 assets tracked against BNT. Over the last 12 months CVNA came out ahead by 5.3 percentage points (-4.5% against +0.8%). One caveat on sizing: CVNA is 2.6 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.
BNT vs CVNA: side by side
| BNT (Brookfield Wealth Solutions Ltd. Class A Exchangeable) | CVNA (Carvana) | |
|---|---|---|
| 1-year return | -4.5% | +0.8% |
| 5-year return | +3.6% | +9.7% |
| Volatility (ann.) | 28.1% | 73.7% |
| Beta vs S&P 500 | 1.44 | 2.66 |
| Max drawdown (3Y) | -27.6% | -53.5% |
| Market cap | $11.4B | $82.1B |
| P/E (trailing) | 50.0 | 39.0 |
| Dividend yield | 0.62% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | BNT | CVNA |
|---|---|---|
| 2022 | -49.5% | -98.0% |
| 2023 | +30.1% | +1016.9% |
| 2024 | +43.3% | +284.1% |
| 2025 | +20.6% | +107.5% |
| 2026 | -9.4% | -12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNT and CVNA good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BNT and CVNA?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.49 over the last year and 0.48 over 5 years.
Is CVNA a good diversifier for BNT?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bnt-vs-cvna.json
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[](https://www.pairbook.io/pair/bnt-vs-cvna/)
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Related comparisons
Hubs: BNT correlations · CVNA correlations
