BUR vs CVKD: Correlation
Measured on weekly returns over the past three years, Burford Capital Limited (BUR) and Cadrenal Therapeutics, Inc. (CVKD) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BUR and CVKD?
Across a 3-year window, the weekly returns of BUR and CVKD correlate at 0.35, moderate. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 1558.6 %².
Within BUR's tracked universe of 15 assets, CVKD comes in at #8 by 3-year correlation. The last year tells two different stories: BUR led by 20.6 percentage points, -68.2% for BUR against -88.8% for CVKD. Note the risk asymmetry: CVKD runs 2.0 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.
BUR vs CVKD: side by side
| BUR (Burford Capital Limited) | CVKD (Cadrenal Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -68.2% | -88.8% |
| 5-year return | -62.0% | n/a |
| Volatility (ann.) | 46.5% | 94.8% |
| Beta vs S&P 500 | 1.40 | 1.51 |
| Max drawdown (3Y) | -75.5% | -94.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.45% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BUR | CVKD |
|---|---|---|
| 2022 | -21.6% | – |
| 2023 | +93.3% | – |
| 2024 | -17.5% | +30.5% |
| 2025 | -29.7% | -53.2% |
| 2026 | -50.9% | -76.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUR and CVKD good diversifiers for each other?
Reasonably. At 0.35, BUR and CVKD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BUR and CVKD?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.30 over the last year and n/a over 5 years.
Is CVKD a good diversifier for BUR?
Reasonably. At 0.35, BUR and CVKD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bur-vs-cvkd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bur-vs-cvkd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BUR correlations · CVKD correlations
