ABAT vs PDYN: Correlation
How closely do American Battery Technology Company (ABAT) and Palladyne AI Corp. (PDYN) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABAT and PDYN?
Across a 3-year window, the weekly returns of ABAT and PDYN correlate at 0.59, moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.59). Stretching to 5 years gives 0.53, with an annualized covariance of 18606.0 %².
Within ABAT's tracked universe of 29 assets, PDYN comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ABAT ahead by 24.0 points (+2.1% versus -21.9%).
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.
ABAT vs PDYN: side by side
| ABAT (American Battery Technology Company) | PDYN (Palladyne AI Corp.) | |
|---|---|---|
| 1-year return | +2.1% | -21.9% |
| 5-year return | -88.8% | -88.8% |
| Volatility (ann.) | 153.9% | 204.5% |
| Beta vs S&P 500 | 2.08 | 3.45 |
| Max drawdown (3Y) | -93.2% | -68.8% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABAT | PDYN |
|---|---|---|
| 2022 | -62.0% | -94.4% |
| 2023 | -23.2% | -78.6% |
| 2024 | -47.5% | +1601.8% |
| 2025 | +35.8% | -65.3% |
| 2026 | -19.9% | +43.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABAT and PDYN good diversifiers for each other?
Only partially. A correlation of 0.59 means ABAT and PDYN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ABAT and PDYN?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.35 over the last year and 0.53 over 5 years.
Is PDYN a good diversifier for ABAT?
Only partially. A correlation of 0.59 means ABAT and PDYN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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/abat-vs-pdyn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abat-vs-pdyn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ABAT correlations · PDYN correlations
