BRBR vs BWA: Correlation
How closely do BellRing Brands, Inc. (BRBR) and BorgWarner Inc. (BWA) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRBR and BWA?
On 3 years of weekly data the BRBR/BWA correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.29). The 5-year figure is -0.09, and annualized covariance runs at -446.2 %².
Out of 20 assets tracked against BRBR, BWA lands near the bottom at #19. Correlation aside, the last 12 months split them widely, with BWA ahead by 125.7 points (-74.8% versus +50.9%). Note the risk asymmetry: BRBR runs 1.7 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.
BRBR vs BWA: side by side
| BRBR (BellRing Brands, Inc.) | BWA (BorgWarner Inc.) | |
|---|---|---|
| 1-year return | -74.8% | +50.9% |
| 5-year return | -68.8% | +84.0% |
| Volatility (ann.) | 51.5% | 29.6% |
| Beta vs S&P 500 | 0.49 | 0.54 |
| Max drawdown (3Y) | -90.0% | -38.7% |
| Market cap | $1.2B | $13.2B |
| P/E (trailing) | 7.6 | 31.9 |
| Dividend yield | 0.00% | 1.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BRBR | BWA |
|---|---|---|
| 2022 | -10.1% | -9.2% |
| 2023 | +116.2% | +2.5% |
| 2024 | +35.9% | -10.2% |
| 2025 | -64.5% | +43.9% |
| 2026 | -61.6% | +44.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRBR and BWA good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between BRBR and BWA?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.46 over the last year and -0.09 over 5 years.
Is BWA a good diversifier for BRBR?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 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.
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Related comparisons
Hubs: BRBR correlations · BWA correlations
