BYFC vs RENX: Correlation
How closely do Broadway Financial Corporation (BYFC) and RenX Enterprises Corp. (RENX) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BYFC and RENX?
On 3 years of weekly data the BYFC/RENX correlation comes out at 0.35, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.04 versus 0.35 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 5363.3 %².
Few assets follow BYFC as closely as RENX, which ranks #3 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months BYFC outperformed by 145.8 percentage points (+54.8% for BYFC against -91.0% for RENX). One caveat on sizing: RENX is 6.8 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.
BYFC vs RENX: side by side
| BYFC (Broadway Financial Corporation) | RENX (RenX Enterprises Corp.) | |
|---|---|---|
| 1-year return | +54.8% | -91.0% |
| 5-year return | -59.2% | n/a |
| Volatility (ann.) | 47.2% | 322.0% |
| Beta vs S&P 500 | 0.86 | 1.58 |
| Max drawdown (3Y) | -43.5% | -99.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BYFC | RENX |
|---|---|---|
| 2022 | -56.3% | – |
| 2023 | -16.0% | – |
| 2024 | +0.9% | -90.5% |
| 2025 | +8.0% | -92.5% |
| 2026 | +62.8% | -46.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BYFC and RENX good diversifiers for each other?
Reasonably. At 0.35, BYFC and RENX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BYFC and RENX?
The BYFC/RENX correlation stands at 0.35 on a 3-year window (1 year: -0.04, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RENX a good diversifier for BYFC?
Reasonably. At 0.35, BYFC and RENX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/byfc-vs-renx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/byfc-vs-renx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BYFC correlations · RENX correlations
