BRNX vs COHR: Correlation
How closely do BrenX Ltd. (BRNX) and Coherent Corp. (COHR) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRNX and COHR?
Across a 3-year window, the weekly returns of BRNX and COHR correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.32) runs below the 3-year figure (-0.20). Stretching to 5 years gives -0.15, with an annualized covariance of -7029.2 %².
Among the 26 assets we track against BRNX, COHR ranks #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months COHR outperformed by 320.5 percentage points (-94.9% for BRNX against +225.6% for COHR). Note the risk asymmetry: BRNX runs 8.3 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.
BRNX vs COHR: side by side
| BRNX (BrenX Ltd.) | COHR (Coherent Corp.) | |
|---|---|---|
| 1-year return | -94.9% | +225.6% |
| 5-year return | -99.9% | +368.6% |
| Volatility (ann.) | 539.2% | 65.0% |
| Beta vs S&P 500 | 1.25 | 2.76 |
| Max drawdown (3Y) | -100.0% | -54.8% |
| Market cap | – | $57.8B |
| P/E (trailing) | – | 71.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | BRNX | COHR |
|---|---|---|
| 2022 | – | -48.6% |
| 2023 | -57.4% | +24.0% |
| 2024 | -77.8% | +117.6% |
| 2025 | -92.4% | +94.8% |
| 2026 | -77.6% | +60.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRNX and COHR good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between BRNX and COHR?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.32 over the last year and -0.15 over 5 years.
Is COHR a good diversifier for BRNX?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 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/brnx-vs-cohr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/brnx-vs-cohr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BRNX correlations · COHR correlations
