BTX vs LASR: Correlation
BlackRock Technology and Private Equity Term Trust (BTX) and nLIGHT, Inc. (LASR) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTX and LASR?
Over the past 3 years, BTX and LASR moved with a correlation of 0.45, which is moderate. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.45). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 617.3 %².
By 3-year correlation, LASR places #14 of the 20 assets tracked against BTX. The last year tells two different stories: LASR led by 16.9 percentage points, +39.5% for BTX against +56.4% for LASR. Note the risk asymmetry: LASR 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.
BTX vs LASR: side by side
| BTX (BlackRock Technology and Private Equity Term Trust) | LASR (nLIGHT, Inc.) | |
|---|---|---|
| 1-year return | +39.5% | +56.4% |
| 5-year return | -21.7% | +61.0% |
| Volatility (ann.) | 24.4% | 56.6% |
| Beta vs S&P 500 | 1.23 | 1.44 |
| Max drawdown (3Y) | -31.7% | -56.1% |
| Market cap | $1.1B | $2.6B |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTX | LASR |
|---|---|---|
| 2022 | -47.8% | -57.7% |
| 2023 | +19.3% | +33.1% |
| 2024 | +13.4% | -22.3% |
| 2025 | +0.9% | +257.6% |
| 2026 | +45.3% | +19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTX and LASR good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BTX and LASR?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.28 over the last year and 0.52 over 5 years.
Is LASR a good diversifier for BTX?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 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/btx-vs-lasr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/btx-vs-lasr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTX correlations · LASR correlations
