DXCM vs PARA: Correlation
How closely do Dexcom (DXCM) and Banzai International, Inc. (PARA) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXCM and PARA?
On 3 years of weekly data the DXCM/PARA correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.30) runs below the 3-year figure (-0.17). The 5-year figure is -0.13, and annualized covariance runs at -898.7 %².
Within DXCM's tracked universe of 28 assets, PARA comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DXCM ahead by 115.1 points (+16.9% versus -98.2%). Note the risk asymmetry: PARA runs 2.5 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.
DXCM vs PARA: side by side
| DXCM (Dexcom) | PARA (Banzai International, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | -98.2% |
| 5-year return | -31.5% | -100.0% |
| Volatility (ann.) | 46.7% | 114.5% |
| Beta vs S&P 500 | 1.02 | -0.02 |
| Max drawdown (3Y) | -61.0% | -100.0% |
| Market cap | $33.7B | – |
| P/E (trailing) | 35.2 | 0.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DXCM | PARA |
|---|---|---|
| 2022 | -15.6% | +3.7% |
| 2023 | +9.6% | -81.4% |
| 2024 | -37.3% | -98.4% |
| 2025 | -14.7% | -93.7% |
| 2026 | +34.5% | -93.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXCM and PARA good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DXCM and PARA?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.30 over the last year and -0.13 over 5 years.
Is PARA a good diversifier for DXCM?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 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/dxcm-vs-para.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dxcm-vs-para/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DXCM correlations · PARA correlations
