BON vs ESI: Correlation
How closely do Bon Natural Life Limited - Class A (BON) and Element Solutions Inc. (ESI) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BON and ESI?
On 3 years of weekly data the BON/ESI correlation comes out at 0.32, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.05 versus 0.32 over 3 years. The 5-year figure is 0.28, and annualized covariance runs at 987.3 %².
ESI is one of the assets that tracks BON most closely: it ranks #3 out of the 12 assets we track against BON. The last year tells two different stories: ESI led by 61.3 percentage points, -18.0% for BON against +43.3% for ESI. Note the risk asymmetry: BON runs 2.9 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.
BON vs ESI: side by side
| BON (Bon Natural Life Limited - Class A) | ESI (Element Solutions Inc.) | |
|---|---|---|
| 1-year return | -18.0% | +43.3% |
| 5-year return | -100.0% | +67.5% |
| Volatility (ann.) | 94.3% | 32.8% |
| Beta vs S&P 500 | 1.69 | 1.26 |
| Max drawdown (3Y) | -99.4% | -40.0% |
| Market cap | – | $8.9B |
| P/E (trailing) | – | 49.4 |
| Dividend yield | 0.00% | 0.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BON | ESI |
|---|---|---|
| 2022 | -76.2% | -23.9% |
| 2023 | -48.9% | +29.3% |
| 2024 | -67.2% | +11.3% |
| 2025 | -96.4% | -0.4% |
| 2026 | -28.3% | +46.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BON and ESI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BON and ESI?
The BON/ESI correlation stands at 0.32 on a 3-year window (1 year: 0.05, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is ESI a good diversifier for BON?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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/bon-vs-esi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bon-vs-esi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BON correlations · ESI correlations
