BWMN vs TENX: Correlation
Bowman Consulting Group Ltd. (BWMN) and Tenax Therapeutics, Inc. (TENX) show a negative relationship: their 3-year correlation of weekly returns is -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWMN and TENX?
Across a 3-year window, the weekly returns of BWMN and TENX correlate at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.59 versus -0.35 over 3 years. Stretching to 5 years gives -0.25, with an annualized covariance of -2497.1 %².
Among the 17 assets we track against BWMN, TENX sits near the bottom by co-movement, at rank #17. Their recent paths diverged sharply: over the last 12 months BWMN outperformed by 64.5 percentage points (+1.5% for BWMN against -63.0% for TENX). Note the risk asymmetry: TENX runs 2.2 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.
BWMN vs TENX: side by side
| BWMN (Bowman Consulting Group Ltd.) | TENX (Tenax Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +1.5% | -63.0% |
| 5-year return | +220.2% | -99.9% |
| Volatility (ann.) | 56.7% | 127.0% |
| Beta vs S&P 500 | 1.08 | 0.95 |
| Max drawdown (3Y) | -56.2% | -97.2% |
| Market cap | $0.7B | $0.1B |
| P/E (trailing) | 101.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWMN | TENX |
|---|---|---|
| 2022 | +2.8% | -89.3% |
| 2023 | +62.6% | -87.6% |
| 2024 | -29.8% | -71.9% |
| 2025 | +32.3% | +96.9% |
| 2026 | +28.8% | -82.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWMN and TENX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BWMN and TENX?
As of 2026-08-27, the correlation of weekly returns between BWMN and TENX is -0.35 over 3 years, -0.59 over 1 year and -0.25 over 5 years.
Is TENX a good diversifier for BWMN?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 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/bwmn-vs-tenx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bwmn-vs-tenx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BWMN correlations · TENX correlations
