BP vs NEPH: Correlation
Measured on weekly returns over the past three years, BP p.l.c. (BP) and Nephros, Inc. (NEPH) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BP and NEPH?
Over the past 3 years, BP and NEPH moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.23 over 3 years. Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -412.4 %².
Within BP's tracked universe of 26 assets, NEPH comes in at #21 by 3-year correlation. The last year tells two different stories: BP led by 21.2 percentage points, +27.6% for BP against +6.4% for NEPH. Risk is not evenly split, since NEPH carries 2.5 times the volatility of the other side.
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.
BP vs NEPH: side by side
| BP (BP p.l.c.) | NEPH (Nephros, Inc.) | |
|---|---|---|
| 1-year return | +27.6% | +6.4% |
| 5-year return | +119.9% | -48.4% |
| Volatility (ann.) | 26.6% | 66.5% |
| Beta vs S&P 500 | 0.06 | 0.07 |
| Max drawdown (3Y) | -30.6% | -65.2% |
| Market cap | $109.0B | – |
| P/E (trailing) | 20.3 | 25.4 |
| Dividend yield | 0.79% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BP | NEPH |
|---|---|---|
| 2022 | +37.0% | -80.3% |
| 2023 | +6.0% | +198.3% |
| 2024 | -11.8% | -57.5% |
| 2025 | +24.5% | +232.0% |
| 2026 | +26.4% | -11.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BP and NEPH good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between BP and NEPH?
As of 2026-08-27, the correlation of weekly returns between BP and NEPH is -0.23 over 3 years, -0.46 over 1 year and -0.14 over 5 years.
Is NEPH a good diversifier for BP?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bp-vs-neph.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bp-vs-neph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BP correlations · NEPH correlations
