BZFD vs HCWB: Correlation
BuzzFeed, Inc. (BZFD) and HCW Biologics Inc. (HCWB) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BZFD and HCWB?
Over the past 3 years, BZFD and HCWB moved with a correlation of 0.48, which is moderate. The past 12 months show a tighter link (0.83) than the 3-year average (0.48). Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 11432.4 %².
Few assets follow BZFD as closely as HCWB, which ranks #1 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months BZFD outperformed by 47.0 percentage points (-44.2% for BZFD against -91.2% for HCWB). Note the risk asymmetry: HCWB runs 2.4 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.
BZFD vs HCWB: side by side
| BZFD (BuzzFeed, Inc.) | HCWB (HCW Biologics Inc.) | |
|---|---|---|
| 1-year return | -44.2% | -91.2% |
| 5-year return | -97.2% | -99.7% |
| Volatility (ann.) | 98.8% | 238.8% |
| Beta vs S&P 500 | 2.00 | 1.21 |
| Max drawdown (3Y) | -89.4% | -99.7% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BZFD | HCWB |
|---|---|---|
| 2022 | -87.1% | -17.5% |
| 2023 | -63.8% | -36.0% |
| 2024 | +167.0% | -63.6% |
| 2025 | -65.2% | -94.6% |
| 2026 | +19.4% | -45.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BZFD and HCWB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BZFD and HCWB?
The BZFD/HCWB correlation stands at 0.48 on a 3-year window (1 year: 0.83, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is HCWB a good diversifier for BZFD?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/bzfd-vs-hcwb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bzfd-vs-hcwb/)
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Hubs: BZFD correlations · HCWB correlations
