BQ vs KALA: Correlation
How closely do Boqii Holding Limited Class A (BQ) and KALA BIO, Inc. (KALA) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BQ and KALA?
Over the past 3 years, BQ and KALA moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.30). Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -9748.4 %².
By 3-year correlation, KALA places #12 of the 17 assets tracked against BQ. Their recent paths diverged sharply: over the last 12 months BQ outperformed by 32.9 percentage points (-66.9% for BQ against -99.8% for KALA). Note the risk asymmetry: BQ runs 2.3 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.
BQ vs KALA: side by side
| BQ (Boqii Holding Limited Class A) | KALA (KALA BIO, Inc.) | |
|---|---|---|
| 1-year return | -66.9% | -99.8% |
| 5-year return | -99.8% | -100.0% |
| Volatility (ann.) | 275.5% | 119.6% |
| Beta vs S&P 500 | 1.87 | 1.73 |
| Max drawdown (3Y) | -98.2% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BQ | KALA |
|---|---|---|
| 2022 | -77.1% | -36.9% |
| 2023 | -88.5% | -81.7% |
| 2024 | -22.1% | -0.9% |
| 2025 | -43.6% | -92.0% |
| 2026 | -54.7% | -97.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BQ and KALA good diversifiers for each other?
Yes. With a correlation of -0.30, BQ and KALA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BQ and KALA?
As of 2026-08-27, the correlation of weekly returns between BQ and KALA is -0.30 over 3 years, -0.43 over 1 year and -0.06 over 5 years.
Is KALA a good diversifier for BQ?
Yes. With a correlation of -0.30, BQ and KALA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 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/bq-vs-kala.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bq-vs-kala/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BQ correlations · KALA correlations
