ABAT vs TMC: Correlation
How closely do American Battery Technology Company (ABAT) and TMC the metals company Inc. (TMC) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABAT and TMC?
Across a 3-year window, the weekly returns of ABAT and TMC correlate at 0.38, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.56 versus 0.38 over 3 years. Stretching to 5 years gives 0.28, with an annualized covariance of 5567.2 %².
Within ABAT's tracked universe of 29 assets, TMC comes in at #21 by 3-year correlation. The trailing year gives ABAT the advantage: +2.1% versus -4.1%, a 6.2-point spread. Note the risk asymmetry: ABAT runs 1.6 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.
ABAT vs TMC: side by side
| ABAT (American Battery Technology Company) | TMC (TMC the metals company Inc.) | |
|---|---|---|
| 1-year return | +2.1% | -4.1% |
| 5-year return | -88.8% | -45.9% |
| Volatility (ann.) | 153.9% | 94.3% |
| Beta vs S&P 500 | 2.08 | 1.21 |
| Max drawdown (3Y) | -93.2% | -67.7% |
| Market cap | $0.4B | $2.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABAT | TMC |
|---|---|---|
| 2022 | -62.0% | -63.0% |
| 2023 | -23.2% | +42.9% |
| 2024 | -47.5% | +1.8% |
| 2025 | +35.8% | +450.9% |
| 2026 | -19.9% | -17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABAT and TMC good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ABAT and TMC?
The ABAT/TMC correlation stands at 0.38 on a 3-year window (1 year: 0.56, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is TMC a good diversifier for ABAT?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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-tmc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abat-vs-tmc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ABAT correlations · TMC correlations
