BTI vs SLMT: Correlation
Measured on weekly returns over the past three years, British American Tobacco Industries, p.l.c. (BTI) and Brera Holdings PLC - Class B (SLMT) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTI and SLMT?
Across a 3-year window, the weekly returns of BTI and SLMT correlate at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.33 versus -0.20 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -613.6 %².
Within BTI's tracked universe of 21 assets, SLMT comes in at #12 by 3-year correlation. The last year tells two different stories: BTI led by 97.5 percentage points, +4.8% for BTI against -92.7% for SLMT. One caveat on sizing: SLMT is 6.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BTI vs SLMT: side by side
| BTI (British American Tobacco Industries, p.l.c.) | SLMT (Brera Holdings PLC - Class B) | |
|---|---|---|
| 1-year return | +4.8% | -92.7% |
| 5-year return | +119.4% | n/a |
| Volatility (ann.) | 22.5% | 139.8% |
| Beta vs S&P 500 | 0.06 | 1.66 |
| Max drawdown (3Y) | -15.3% | -98.8% |
| Market cap | $121.2B | $0.1B |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 4.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTI | SLMT |
|---|---|---|
| 2022 | +15.1% | – |
| 2023 | -20.1% | – |
| 2024 | +35.4% | +25.5% |
| 2025 | +65.8% | -77.3% |
| 2026 | +2.2% | -75.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTI and SLMT good diversifiers for each other?
Yes. With a correlation of -0.20, BTI and SLMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTI and SLMT?
The BTI/SLMT correlation stands at -0.20 on a 3-year window (1 year: -0.33, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SLMT a good diversifier for BTI?
Yes. With a correlation of -0.20, BTI and SLMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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: BTI correlations · SLMT correlations
