BSBK vs PGNY: Correlation
Measured on weekly returns over the past three years, Bogota Financial Corp. (BSBK) and Progyny, Inc. (PGNY) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSBK and PGNY?
On 3 years of weekly data the BSBK/PGNY correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.24). The 5-year figure is -0.15, and annualized covariance runs at -244.6 %².
PGNY is close to the least connected end of BSBK's tracked universe, ranking #13 of 14. The trailing year gives PGNY the advantage: -1.1% versus +12.3%, a 13.4-point spread. Risk is not evenly split, since PGNY carries 2.3 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.
BSBK vs PGNY: side by side
| BSBK (Bogota Financial Corp.) | PGNY (Progyny, Inc.) | |
|---|---|---|
| 1-year return | -1.1% | +12.3% |
| 5-year return | -12.7% | -53.1% |
| Volatility (ann.) | 21.2% | 48.9% |
| Beta vs S&P 500 | 0.12 | 0.64 |
| Max drawdown (3Y) | -21.6% | -67.2% |
| Market cap | $0.1B | $2.0B |
| P/E (trailing) | 43.4 | 28.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BSBK | PGNY |
|---|---|---|
| 2022 | +9.8% | -38.1% |
| 2023 | -28.0% | +19.4% |
| 2024 | -6.8% | -53.6% |
| 2025 | +12.7% | +48.9% |
| 2026 | +7.9% | +0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSBK and PGNY good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BSBK and PGNY?
The BSBK/PGNY correlation stands at -0.24 on a 3-year window (1 year: -0.10, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is PGNY a good diversifier for BSBK?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Hubs: BSBK correlations · PGNY correlations
