BNTC vs CDXS: Correlation
How closely do Benitec Biopharma Inc. (BNTC) and Codexis, Inc. (CDXS) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNTC and CDXS?
Across a 3-year window, the weekly returns of BNTC and CDXS correlate at 0.37, moderate. The link has tightened recently: the 1-year correlation (0.50) runs above the 3-year figure (0.37). Stretching to 5 years gives 0.29, with an annualized covariance of 2292.1 %².
Among the 10 assets we track against BNTC, CDXS ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BNTC ahead by 36.3 points (-1.5% versus -37.8%).
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.
BNTC vs CDXS: side by side
| BNTC (Benitec Biopharma Inc.) | CDXS (Codexis, Inc.) | |
|---|---|---|
| 1-year return | -1.5% | -37.8% |
| 5-year return | -82.5% | -93.7% |
| Volatility (ann.) | 69.3% | 88.6% |
| Beta vs S&P 500 | 0.83 | 2.44 |
| Max drawdown (3Y) | -40.1% | -83.1% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BNTC | CDXS |
|---|---|---|
| 2022 | -93.5% | -85.1% |
| 2023 | +11.8% | -34.5% |
| 2024 | +291.0% | +56.4% |
| 2025 | +6.7% | -65.8% |
| 2026 | -5.9% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNTC and CDXS good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BNTC and CDXS?
The BNTC/CDXS correlation stands at 0.37 on a 3-year window (1 year: 0.50, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is CDXS a good diversifier for BNTC?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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.
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Related comparisons
Hubs: BNTC correlations · CDXS correlations
